A lifestyle car will be sold by Canoo by 2022, an American auto company located in Torrance, California that creates and produces electric automobiles.
Stefan Krause and Ulrich Kranz launched Canoo under the moniker Evelozcity in 2017. Krause served as the chief financial officer of Deutsche Bank, while Kranz was a senior executive of BMW. Both men first met at the competing electric vehicle startup Faraday Future, which they both left together in 2017 to create their own business over differences with the company's management. At Evelozcity, Krause assumed the position of chief executive officer, while Kranz was promoted to chief technical officer. German businessman David Stern and Chinese investor Li "David" Pak-Tam/Botan provided the majority of the company's capital.
Karl-Thomas Neumann, the former CEO of Opel, was hired by Evelozcity Canoo in April as a senior executive.
Evelozcity was rebranded Canoo in March 2019.
Karl-Thomas Neumann quit Canoo in July 2019 but remained an investor in the business.
The firm accused several former executives of stealing trade secrets from Canoo and hiring staff for their rival EV startup Harbinger Motors in December 2022.