Canoo Connects Owners to All Vehicles - Not Just Canoo

Canoo's App Aims to Manage All Vehicles, Not Just Its Own

Electric vehicle innovator Canoo recently unveiled details regarding the functionalities planned for its upcoming application. A key feature is a comprehensive, all-in-one platform designed for managing Canoo vehicles, but extending its utility to encompass a user’s entire fleet of automobiles.

Potential for Data and Revenue

This unique strategy regarding its branded app could prove highly beneficial for Canoo, potentially generating substantial user data and revenue streams through services like tire replacements and insurance sales. Christian Treiber, Senior VP of Global Customer Journey and Aftersales at Canoo, estimates that a fleet of 50,000 sold Canoos could provide data on as many as 150,000 vehicles, assuming an average owner possesses two additional cars.

“We are considering the broader opportunity,” Treiber stated. “An ecosystem centered around Canoo, yet serving the entire customer’s vehicle collection.”

Vehicle Data and Connectivity

The application will provide drivers with detailed information for all connected vehicles, regardless of manufacturer. For electric vehicles, this includes range and battery life. For internal combustion engine vehicles, it will display odometer readings, miles per gallon, and total range.

This data acquisition will be facilitated through a simple ODB connector. Canoo CEO Tony Aquila explained to TechCrunch, “We have expertise in translating vehicle data, extracting metadata, and providing service, maintenance, and asset information – a capability honed through a multibillion-dollar business. Utilizing an OBD dongle is a straightforward process for us.”

Leadership and Background

Tony Aquila assumed leadership of Canoo in April, following the departures of co-founders Stefan Krause and Ulrich Kranz in June 2020 and April, respectively. Kranz subsequently joined Apple to contribute to the development of their automotive project. Aquila previously established Solera Holdings in 2005, a company specializing in risk management and asset protection software.

App Features and Revenue Generation

Canoo intends to leverage its app to diversify revenue streams. For Canoo vehicles, drivers can access a dedicated section for Maintenance and Upgrades.

This section allows for instant horsepower upgrades, service appointment scheduling, and software updates. Up to 94% of the vehicle’s electronic control units will support over-the-air updates. The app will also proactively alert drivers to potential wear and tear, such as tire replacements, and offer exclusive deals on these services.

Furthermore, drivers will be able to order accessories for their Canoo, including roof racks, floor mats, and seat protectors.

Partnerships and Future Expansion

Many of these features, particularly those extending to non-Canoo vehicles, will be implemented through strategic partnerships with service providers, insurance companies, and vehicle detailing services. Trieber also suggested potential collaborations, such as integrating the Canoo app as a digital wallet for payments at restaurants.

“The automotive industry’s greatest opportunity lies in data monetization, and we are committed to participating in and leading this trend,” he emphasized.

Factory Location and Production

This announcement was made during the company’s investor day presentation on Thursday, where Aquila also revealed Oklahoma as the location for Canoo’s first manufacturing facility. The factory is anticipated to be operational in 2023.

Production of Canoo’s initial lifestyle vehicle, slated for delivery in the fourth quarter of 2022, will be handled by VDL Nedcar, a contract manufacturer based in the Netherlands, while the Oklahoma factory is under construction.