New EV startup Canoo will only sell cars on a subscription basis

Electric vehicle startup EVelozcity, which was founded in late 2017 by three former BMW executives (and ex-Faraday Future employees), has a new name and a new direction. The company announced Monday it’s rebranding to Canoo, and also clarified that it will only sell its upcoming vehicles on a subscription model. Those vehicles will be human-controlled at first, though the aim is to equip them with enough technology that they could eventually be autonomous.
The first car from Canoo is due