EV startup Canoo is undergoing significant changes as its chief technology officer, Sohel Merchant, departs from the company. Merchant, who was part of the founding team, has left, leaving only one founding team member, chief engineer Christoph Kuttner, remaining.
Canoo is currently in the process of reorganizing its operations. The company has decided to close its Los Angeles headquarters and is asking the majority of its nearly 200 employees to relocate to either Texas or Oklahoma. The move aims to consolidate Canoo’s operations and increase efficiency.
Since going public in late 2020 through a merger with a special purpose acquisition company (SPAC), Canoo has experienced a series of changes. Chairman Tony Aquila took over as CEO and shifted the company’s focus away from selling electric vans to everyday consumers. Instead, Canoo is now targeting the commercial electric vehicle market.
The departure of the CTO, combined with the reorganization efforts, indicates a pivotal moment for Canoo. The startup is working towards streamlining its operations and aligning its strategy with the evolving demands of the electric vehicle industry.
As Canoo navigates these changes, the departure of key team members necessitates adaptability and resilience. Canoo’s ability to effectively manage the reorganization and maintain its position in the competitive EV market will be crucial for its continued growth and success.