Electrical car startup Canoo will provide vehicles by subscription solely, Auto Information, DFL
Evelozcity, the U.S. electrical car startup, has modified its title to Canoo and stated on Monday that it’s going to provide a spread of EVs to personal and business prospects by subscription solely.
Canoo is positioning itself as a “boutique California EV model” and stated it would begin gross sales in the US in 2021, ultimately increasing to China.
The corporate, considered one of dozens of EV startups in the US and China, has not disclosed its traders however has raised about $1 billion, in line with a supply acquainted with the method.
Canoo stated it plans to market a four-model vary that may embody private commuter and “life-style” automobiles, in addition to business automobiles for journey and supply companies. The so-called life-style car is supposed to offer the area and performance of an SUV, the corporate stated.
Canoo didn’t present any particulars on pricing however stated it will not have a supplier community. It’s going to provide a wide range of subscriptions of various period, some bundled with insurance coverage and associated companies.
Based in late 2017 and based mostly in a Los Angeles suburb, Canoo stated it’s planning a “lean” operation that may 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 stated it’s “evaluating companions for manufacturing however no contracts are signed but.” Magna declined to remark.
Canoo stated it plans to accomplice with a supplier of self-driving expertise for future automated variations of its automobiles.
The startup stated its car designs might be non-traditional, with “a minimalist design that maximizes inside area.”
Canoo stated it has 350 staff 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 government at Deutsche Financial institution. Kranz was a senior vp at BMW’s electrical car unit. Kim beforehand led the outside design of the BMW i3.
The founding staff was joined final yr by one other business veteran, Karl-Thomas Neumann, former chief government of German automaker Opel and head of Volkswagen AG’s China operation.