EV startup Canoo is going through significant changes as it loses its co-founder and chief technology officer, Sohel Merchant, and relocates its operations out of Los Angeles. The company’s decision comes as part of a reorganization plan that aims to streamline operations and optimize efficiency.
Merchant assumed the role of CTO in 2021 after the departure of the company’s previous CTO and two other co-founders. Last year, chief designer Richard Kim also left the company. With Merchant’s reported departure, chief engineer Christoph Kuttner remains as the sole remaining founder at Canoo.
To facilitate the reorganization, Canoo announced in a quarterly SEC filing that it would be reducing its headcount permanently. As part of this plan, the company offered approximately 137 out of 194 employees at its Torrance, California facility the opportunity to relocate to either Oklahoma or Texas.
In a recent company meeting, Canoo informed its employees that it would be shutting down its Los Angeles office. The decision to shift operations away from LA is an effort to optimize resources and adapt to a changing business landscape.
While these changes bring uncertainty, Canoo remains committed to its goal of revolutionizing electric vehicles. The company continues to innovate and develop its EV technologies, with a focus on creating sustainable and efficient transportation solutions for the future.
As Canoo embarks on this new chapter, it will undoubtedly face challenges and opportunities. However, with a dedicated team and a clear vision, the company remains determined to make a lasting impact in the electric vehicle industry.