Canoo faces another lawsuit for unfulfilled payments, denies owing over $500K
OKLAHOMA CITY (KOKH) — FOX 25 is learning about another lawsuit that was filed against the electric vehicle company Canoo earlier this year.
In May, Air Capital Equipment, Inc. which is a compressed air system company, filed a lawsuit in May against Canoo for more than half a million dollars.
The lawsuit states the two companies had an open account agreement on July 20, 2023, where Canoo would acquire certain materials from Air Capital on credit.
According to the lawsuit, Canoo wracked up an account total of$573,142.82 as of May 1, and the payment is past due.
The lawsuit is seeking$573,142.82 in payment along with attorney's fees, costs, and interest accruing at the contractual rate of 18%.
According to court documents, Canoo denies owing Air Capital more than half a million dollars and filed a motion to compel arbitration, which means a neutral third party would help settle the dispute.
Air Capital requested the court deny Canoo's motion.
A hearing is scheduled for Canoo's motion to compel arbitration on Aug. 30.
Read the full lawsuit below:
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