Canoo To Connect Owners With Each Other With An App

EV startup which till recently was attracting biggies like Apple and Hyundai after going public via a SPAC deal has plans of creating a community around its owners by connecting each other with an app. In fact, the app even works with cars that are not by Canoo. 

Canoo is taking a big data approach as it could attain tons of user data and revenue via the sales of its services like tyre replacement and even insurance. Canoo is betting on the fact that the average user has at least 2 vehicles that could mean that for 50,000 Canoo vehicles sold it could get the data of 150,000 vehicles. 

In the case of vehicles that aren't from Canoo but hooked into the app, the driver will be able to see details like range and battery life in the case of EVs and even details like odometer, miles per gallon and the total range of an internal combustion engine vehicle. This is established using an ODB connector. 

"We know how to translate data in cars, we know how to take that metadata and put in service maintenance, repair and asset information because that's what we've done, we've built a multibillion-dollar business doing this," Canoo CEO Tony Aquila told TechCrunch. 

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"So we can take that data and do that for you. It's nothing for us on our platform. It's just an OBD dongle. OEMs spend money on stupid stuff, we'd rather give you a dongle for your second car. If you want to connect it, you can run it all off the same app," he added. 

Tony Aquila who joined the team this year has pushed out the founders one of whom - Ulrich Kranz joined Apple. Aquila has pivoted the company towards services and is hoping the app could drive revenue as well. In the case of Canoo branded cars it will allow to access the maintenance and upgrades section which could instantly upgrade the horsepower of the vehicle, schedule a service appointment or even check for software updates. 

He is also betting on the fact that 94 per cent of electronic control units have wireless updating capability. This app will also have productive wear and tear reminders for instance the need for new tyres and then will push special offers for the same. Drivers will also be able to order other kinds of upgrades like a roof rack or spoiler. 

The interesting bit is that many of these features will also come to non-Canoo cars but will only happen with partnerships with third parties. The app will also integrate a digital wallet service which will enable people to pay for food at a restaurant. 

"The single greatest opportunity for the automotive industry is monetizing data, and we want to be part of it, and we will be part of it," said Aquila at the investor day presentation. He also announced that the first manufacturing facility for the Canoo team will be in Oklahoma but that site will open in 2023.