Canoo’s CTO Departs Amidst Broader Organizational Restructuring

Technology Officer Sohel Merchant, a key figure at EV innovator Canoo, has exited the company, according to two insiders speaking to TechCrunch.

A pivotal member of the team that established Canoo in the latter part of 2017, Merchant’s departure signifies that only Christoph Kuttner, the chief engineer, from the original founding team remains.

Attempts to get a comment from Canoo went unanswered. Merchant also opted not to comment on the matter.

Merchant’s exit comes amidst a period of significant restructuring within Canoo. The company is shuttering its Los Angeles head office, relocating the bulk of its approximately 200 employees to its corporate office in Texas or its planned manufacturing site in Oklahoma.

Since its SPAC-fueled public debut towards the end of 2020, Canoo has been in a perpetual state of evolution. Following the merger, Tony Aquila ascended to the CEO position, rerouting the company’s focus from selling electric vans to the general public to catering to the commercial EV domain.

Under Aquila’s stewardship, Canoo’s strategic direction has undergone several changes. In late 2021, he disclosed plans to relocate the company’s base from Los Angeles to Bentonville, Arkansas, eyeing a partnership with Walmart. Though Walmart eventually inked a deal with Canoo in 2022, the terms were notably cautious for the retail giant, and Canoo has struggled to deliver a significant volume of vehicles as part of this partnership. The anticipated move to Bentonville never fully materialized. Instead, Canoo has been focusing on Oklahoma for a new large-scale manufacturing facility that is yet to materialize. Currently, Canoo is engaged in testing vehicles for notable entities such as the United States Postal Service, NASA, and the Department of Defense, despite a dwindling cash reserve, reporting a mere $19.1 million on hand as of June 30.

Over time, Canoo has seen the departure of nearly all its original founders. Stefan Krause, a co-founder and the initial CEO, left in 2020. His successor and co-founder Ulrich Kranz, departed in 2021 to join Apple’s covert EV project. Richard Kim, another foundational member and chief designer, exited in 2023.