A Startup is Creating an Electric Car You Subscribe To by the Month

Technology
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The startup that’s making an electric car you can subscribe to! 

Electric cars are an increasingly popular way to get around, but what if you’re hesitant to buy or lease this new way to get around?

Torrance-based Canoo is a startup working on an answer: an EV you subscribe to!

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“Most of the electric cars we see still look like combustion engine cars,” says Stefan Krause, a board member with Canoo.

The startup just unveiled their first car to the world: an EV by the same name, Canoo! It looks like a mix between a minivan and a SUV.

Inside, the backseat it feels more like a living room with seating for seven. Up front, there is a minimalist aesthetic.

One unique aspect of this car: there is no traditional dashboard display. You place your phone in the dashboard holder and it tells you everything you need to know.

“You buy a new car and the first thing you do is buy an iPhone holder because you’re most likely not going to use the navigation from your car manufacturer. You’re most likely not going to use the music from your car manufacturer,” said Krause.

And, just like Netflix and Spotify, you subscribe to this car. You can’t buy or lease it!

“Look at the young generation, they don’t want to own stuff anymore,” explained Krause.

Subscriptions are month to month and when you have one, the car is yours 24/7.

“You own the car, we will take care of the car, we will maintain the car. You just pay a monthly fee. Also, you can walk away at any time,” says Krause.

Canoo believes this structure will entice owners to eventually lend their cars out for ride-sharing during the hours they’re not using them, like while working all day at the office.

Canoo hopes to have cars on Los Angeles streets first in 2021, followed by other major cities. As for that subscription price? The company wants to make it as affordable and accessible as possible.

Listen to the Rich on Tech podcast! Search for it in your podcast app or just hit play below to listen.

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