Canoo’s Executive Chairman, Tony Aquila, and one of the company’s largest investors, has taken over as its Chief Executive Officer. Aquila succeeds Canoo’s founder, Ulrich Kranz, who has resigned effective April 30th.
Along with Aquila’s appointment as CEO, the California-based company announced the opening of executive offices in Dallas. California will remain the home of its concept development, including design and engineering.
Aquila joined the Canoo board as Executive Chairman on December 21, 2020. He was previously elected chairman on October 19, 2020.
“In looking at any company, I start with the product and people first,” Aquila says. “In fact, I invested in Canoo because of the technology associated with the multi-purpose platform, their engineering team and the market opportunity the Company has to bring EVs to everyone. I see tremendous upside in this Company. We are focused on aligning the business to best meet the greatest market demand.”
As part of the new strategic plan developed following the analysis by internal and external experts, the company is shifting manufacturing into two phases.
“In phase 1, as previously announced, we will use contract manufacturing to launch production of the MPP1 LV derivative. We will announce the selection of our partners shortly. In phase 2, we will move forward on our mega micro-factory where we will build our MPP1 and certain high-volume derivatives. We are in advanced discussions with a number of governors and their teams about the location and believe this move will result in the creation of approximately 2,000 good paying jobs,” he states.
Thomas Dattilo, a member of the Board of Directors and Chairperson of the Nominating and Corporate Governance Committee, adds: “The entire Board is pleased and excited that someone with Tony’s background, track record and vision has agreed to lead the Company. I’ve seen first-hand what Tony can accomplish. We are confident the Company will benefit from Tony’s extensive experience in creating and leading high growth companies, both private and public, as we enter this critical stage in our growth.”
Canoo is developing electric vehicles that are reinventing the automotive landscape with innovations in design, pioneering technologies, and a unique business model that defies traditional ownership. Distinguished by its experienced team – totaling over 350 employees from leading technology and automotive companies – Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle applications for consumers and businesses.
Keyword: Canoo’s Chairman Takes Over as CEO; Founder Ulrich Kranz Steps Down