EV Startup EVelozcity Changes Name

EVelozcity Inc., a Los Angeles-based electric vehicle startup, has changed its name to Canoo.

The quirky name was picked in part as a play on the word “canoe.” The company says the connection will create a sense of relaxation and movement among customers.

The company, which was launched in 2017 by three former Faraday Future executives, aims to introduce four models—manufactured by a contractor—over the next three years. Last year, Canoo raised about $1 billion from investors in China, Europe and the U.S.

The company’s vehicles will ride on a “skateboard” chassis that packages the battery flat under the floor. Canoo’s lineup calls for a sporty “lifestyle” vehicle, a small commuter car, a last-mile delivery van and a ride-hailing shuttle. All vehicles will be marketed on a subscription-only basis.

The company says its lifestyle model will be the size of a compact car but be able to accommodate as many as seven occupants.