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The Netflix of cars? Startup will offer its electric vehicles on a subscription basis only


The Netflix of cars? Electric vehicle startup Canoo reveals plan for subscription-only car purchasing service

  • Newly rebranded startup Canoo will offer users subscription-based electric cars
  • It will release four different models in 2021 with differing pricing packages 
  • Options will include differing amount of flexibility and amenities   

Subscription services dominate the way people watch movies; listen to music; the way they eat; read the news; and now, if a new startup is any indication, possibly even the way they drive. 

A recently re-branded startup, Canoo — formerly known as Evelozcity — announced recently that it will offer their cars, a selection of different electric vehicles, through subscription only.

Specific packages will offer users of Canoo multiple options that include varying levels of flexibility, says the company.

A subscription-only car company will offer electric vehicles with differing payment models that allow customers to start and stop leasing at will.

A subscription-only car company will offer electric vehicles with differing payment models that allow customers to start and stop leasing at will. 

CANOO EV SPECS 

Soon-to-be offered electric vehicles by startup, Canoo, will offer users an array of selling-points that include:

– A subscription model that will allow customers to flexibly drive the car. It could last months or years depending on preference

– Four different styles with interchangeable ‘top hats’ that constitute the car’s interior

– Design features are emphasizing an open interior that Canoo says will give drivers unparalleled space in a compact environment  

‘Canoo’s subscriptions will have no specific duration commitment,’ said Canoo in a statement. 

‘There will be different packages available from 24/7 access, to more flexible options — each for affordable payments that include insurance and other services.’ 

In a report from The Verge, the company’s CEO, Stefan Krause, detailed the subscription model further.

‘There will be no set date. You could take it for one month or take it for 10 years,’ Krause said in the report. 

‘We are basically completely open ended. I want customers to try it, and after two months they decide it’s not for them, then they just return the car.’

The company says it plans to roll out four styles of electric car by 2021 that include a ‘lifestyle vehicle’ a ‘last-mile delivery’ vehicle, a ‘ride-hailing’ vehicle, and a ‘personal commuter’ vehicle.

In addition to upending the typical payment model for most vehicles, Canoo says it will also work to offer unique designs for its vehicles. 

Among the prototypes is a personal commuter vehicle that it says ‘maximizes interior space.’

Each vehicle will use a standard undercarriage that it calls a ‘skateboard’ atop which customers can select different ‘top hats’ that create the interior of the car. 

Canoo's cars aren't yet autonomous, but that will likely change in the future, the company says.

Canoo’s cars aren’t yet autonomous, but that will likely change in the future, the company says.

In a statement about the company’s rebranding, it did not offer specific pricing, but did say that consumers will by purchasing directly from the company as opposed to a network of sales people. 

According to a report from Reuters, the company has already raised $1 billion in funding but does not currently have a deal in place for where it will manufacture its vehicles.   

While current models would be traditional, self-driven, cars the company says it is exploring options of deploying autonomously driven cars in the future. 

‘Autonomous driving; It’s not a matter of if, but when. Our smart design ensures that the latest, most relevant software is easily integrated for full autonomous driving. The transition will be seamless,’ reads the company web page.



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