EVELOZCITY, a Los Angeles based company creating electric vehicles (EV) made for subscription, announced that Canoo is its new name. "We picked Canoo because it sounds distinctive, looks cool and creates a feeling of both relaxation and movement," said Stefan Krause, who is In Charge of Canoo. "For thousands of years, a canoe has been a simple, sustainable transportation device used all over the world." 

The Company will launch its first model in the U.S. beginning in 2021. By leveraging the benefits of a flat EV platform, Canoo is able to create unique vehicles that look nothing like what is on the road today. Canoo's vehicles will move away from traditional three box car design, which have separate compartments for the engine, passengers and luggage. Instead, the Company is embracing a minimalist design that maximizes interior space.

Canoo will be a boutique Californian brand that will offer four unique vehicles in cities by subscription only:

• A lifestyle vehicle 
• A personal commuter vehicle 
• A last-mile delivery vehicle 
• A ride-hailing vehicle

While only 15-months-old, the Company already has more than 350 team members and is growing steadily. Canoo is excited to announce several key hires: 

Olivier Bellin has been appointed to be In Charge of Operations, which includes supply chain, program management and project financials. Olivier spent 20 years at STMicroelectronics, a Geneva based semiconductor leader, where he ultimately advanced to serve as VP Finance & CFO of the Americas. He was also VP of Supply Chain for California startup ICON Aircraft. 

Canoo also announces that the former President of BMW Manufacturing LLC, Clemens Schmitz-Justen, recently joined to be In Charge of Manufacturing. Clemens will be responsible for overseeing Canoo's contract manufacturing strategy. With his help, the Company will take an asset lean approach, outsourcing production of its vehicles in the U.S. and China.

Beginning mid-April, James Cox will join Canoo from Uber to be In Charge of Digital. James spent the last four years at Uber's headquarters, where he led global product operations for the Uber rider app. Prior to that, he was part of the product team that launched and built UberPOOL and spent a year launching ride-sharing (UberX) in Australia. James will be critical in setting Canoo's strategy for digital services, including the implementation of the Company's cloud-based customer offerings and underlying ecosystem.

Shi (Time) Aobing was appointed In Charge of HR in China and joins the Company after spending 11 years at SAIC Motor, a Fortune Global 500 company. During his tenure there, Time worked on a joint initiative (now called Banma) with Alibaba Group, to build the world's first mass-produced Internet car, and he was responsible for building the organizational structure and growing the team. Now, Time is responsible for growing the Canoo team in Shanghai, which is instrumental for the Company as the U.S. and China are the two most important regions.

There are 3 key areas where Canoo is taking a unique approach:

1. Unique Products: A design that will look like nothing on the road today by challenging the norms of space and function, as well as offering a lean User Interface (UI) 
2. Next-generation Business Model: A new approach to the EV market that focuses on reducing production and infrastructure costs while increasing revenue 
3. 100% subscription, secured by blockchain technology

Canoo | www.wecanoo.com