Ford Embraces EVs, Waymo Increases Robotaxi Rides, and Canoo Leaves California

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Monterey Car Week has wrapped up, continuing its tradition of showcasing classic and cutting-edge vehicles. This year, the event saw a notable shift towards electric vehicles (EVs) and technological advancements. As TechCrunch contributor Abigail Bassett highlighted, the event attracted a significant presence from Silicon Valley's tech community, including software developers and founders. For an in-depth look at the most exciting EVs featured at Monterey Car Week, check out Abigail's article.

Among the highlights, Rimac introduced the Nevera R, an enhanced version of its hypercar boasting even more power than its predecessor. TechCrunch also had the opportunity to interview Timo Resch, the new CEO of Porsche North America, who discussed the upcoming all-electric Macan EV and Porsche's strategy to navigate the current volatile market. Polestar CEO Thomas Ingenlath also weighed in on the company's plans amidst political uncertainties, the Polestar 3, and its goal of achieving financial independence from major shareholders Geely Holding Group and Volvo.

In other news beyond Monterey Car Week, Canoo has announced plans to close its original headquarters in Los Angeles, which has been the company’s base since its inception in late 2017. The new headquarters will be located in Justin, Texas, where Canoo has maintained a corporate office since CEO Tony Aquila’s takeover a few years ago. This move comes after Canoo previously scrapped plans to relocate to Bentonville, Arkansas, while courting Walmart.

Canoo’s recent SEC filing revealed that the company will offer relocation to about 137 of its 194 employees at the Torrance Facility. The relocations will be to Texas or Oklahoma, where Canoo has been working to establish a manufacturing facility. Unfortunately, the remaining staff will be laid off. The LA office is set to close on October 15. The company, which reported 651 employees at the end of 2023, has seen a significant reduction from nearly 1,000 employees in late 2022.

The decision to close Canoo's Los Angeles office and the departure of co-founder and chief design officer Richard Kim in April 2023 are emblematic of the broader challenges the company has faced. These issues have significantly impacted its operations and strategic direction.

Under CEO Tony Aquila's leadership, Canoo has struggled to meet production milestones and scale its manufacturing capabilities. The company’s shift away from its original headquarters and the recent closure of the LA office reflect ongoing difficulties in maintaining operational stability and financial health. The closure marks a transition to a new headquarters in Justin, Texas, aligning with the company's broader strategy to consolidate operations and streamline its business processes.

The departure of Richard Kim, who was instrumental in shaping the company's design vision, further highlights the turbulence within the organization. Kim’s exit in April 2023, following a period of high-profile internal and external challenges, underscores the difficulties Canoo has encountered in executing its ambitious plans.

Canoo's struggles with production and its evolving business model are indicative of the broader pressures facing many emerging electric vehicle companies. These pressures include the need to balance innovation with practical manufacturing capabilities, navigate shifting market dynamics, and secure sustained investment. Despite these challenges, Canoo's relocation plans and restructuring efforts are part of its attempt to realign and position itself for future success in a competitive and rapidly changing industry.