EV Startup Canoo Moves HQ from California to Texas as Another Executive Exits.
Canoo Co-Founder and CTO Leaves the Company After 7 Years.
In a significant shift within the electric vehicle industry, Canoo, the emerging EV startup known for its innovative designs, has announced a major transition, moving its headquarters from Torrance, California, to Texas. This move comes amidst a broader corporate shakeup, which includes the departure of Sohel Merchant, the Chief Technology Officer and co-founder. After seven years of contributing to Canoo's development and facing mounting production challenges, Merchant's exit marks another high-profile departure within the company. As Canoo relocates to the Dallas-Fort Worth area to ramp up its production capabilities, this strategic shift aims to optimize operational efficiency and expand its footprint in the burgeoning EV market.
Canoo will depart its facility in Torrance, California, and move to the Dallas-Fort Worth area as it tries to ramp up production of its electric delivery vans.
Canoo announced that it will be moving its headquarters from California to Texas, as reported by TechCrunch.
The facility in Torrance, Calif., will be shuttered and roughly 70 percent of the employees will be offered relocation to Canoo's operations in Texas or Oklahoma.
TechCrunch also reported that Sohel Merchant, Canoo's chief technology officer and one of its founding members, has resigned.
Startup company Canoo made a splash when it unveiled the pod-like Lifestyle Vehicle in 2019, followed by a neat snub-nosed pickup truck. But Canoo has struggled to put its unorthodox EVs into production, switching focus to commercial variants after Tony Aquila became CEO in 2021 and since delivering a handful of Lifestyle Delivery Vehicle vans to fleet customers. Now, according to reports from TechCrunch, Canoo is undergoing a significant shakeup, with its chief technology officer departing just as the company ditches its office in Torrance, California, for Texas.