The most recent entrant within the EV race is Canoo, which goes public later this 12 months because of a reverse merger with particular goal acquisition firm Hennessy Capital Acquisition Corp. (HCAC). In a market that appears to get extra crowded by the day, Canoo is setting itself aside – for example, when its client automobile hits the highway in 2022, you will not purchase or lease it. As a substitute, drivers will probably be charged a month-to-month subscription charge for Canoo vehicles, in addition to insurance coverage and entry to recharging stations. Canoo plans to focus on younger professionals with this distinctive value proposition, however within the meantime, the corporate will make the most of its skateboard chassis know-how to herald income. The corporate has partnered with Hyundai and Kia to supply these modular, low-profile chassis, decreasing prices for EV manufacturing and offering Canoo with a foot within the door of a really aggressive business.
