Electrical car startup Canoo will provide vehicles by subscription solely, Auto Information, Automobilnews
Evelozcity, the U.S. electrical car startup, has modified its identify to Canoo and mentioned on Monday that it’ll provide a spread of EVs to non-public and business clients by subscription solely.Canoo is positioning itself as a “boutique California EV model” and mentioned it should begin gross sales in the US in 2021, ultimately increasing to China.
The corporate, one in every of dozens of EV startups in the US and China, has not disclosed its buyers however has raised about $1 billion, in keeping with a supply accustomed to the method.
Canoo mentioned it plans to market a four-model vary that can embrace private commuter and “way of life” automobiles, in addition to business automobiles for journey and supply providers. The so-called way of life car is supposed to supply the area and performance of an SUV, the corporate mentioned.
Canoo didn’t present any particulars on pricing however mentioned it might not have a supplier community. It’ll provide a wide range of subscriptions of various length, some bundled with insurance coverage and associated providers.Based in late 2017 and primarily based in a Los Angeles suburb, Canoo mentioned it’s planning a “lean” operation that can depend on a contract producer to assemble its automobiles.
In mid-March, German publication Automobilwoche reported the corporate was in talks with Canadian provider Magna Worldwide and its unit Magna-Steyr to assemble the startup’s automobiles in the US.
Canoo mentioned it’s “evaluating companions for manufacturing however no contracts are signed but.” Magna declined to remark.
Canoo mentioned it plans to accomplice with a supplier of self-driving know-how for future automated variations of its automobiles.
The startup mentioned its car designs shall be non-traditional, with “a minimalist design that maximizes inside area.”
Canoo mentioned it has 350 workers and introduced a number of key hires, together with former executives of Uber, SAIC Motor and STMicroelectronics.
The corporate was based by Stefan Krause, Ulrich Kranz and Richard Kim, all of whom labored beforehand at one other California-based EV startup, Faraday Future. Krause is a former prime govt at Deutsche Financial institution. Kranz was a senior vice chairman at BMW’s electrical car unit. Kim beforehand led the outside design of the BMW i3.
The founding workforce was joined final 12 months by one other trade veteran, Karl-Thomas Neumann, former chief govt of German automaker Opel and head of Volkswagen AG’s China operation.