Canoo's chief technology officer is out amid wider reorg

Core Insights - Canoo's chief technology officer Sohel Merchant has left the company, leaving only one founding team member remaining [1] - The company is undergoing a significant reorganization, closing its Los Angeles headquarters and relocating employees to Texas or Oklahoma [2] - Canoo has been in a state of transformation since going public in late 2020, shifting its focus from selling electric vans to targeting the commercial EV market [3] Company Developments - CEO Tony Aquila announced plans to move the headquarters to Bentonville, Arkansas, to attract Walmart as a customer, but this move has not materialized [4] - Although Walmart signed a deal with Canoo in 2022, it was a low-risk arrangement, and Canoo has not delivered significant vehicle volumes under this agreement [5] - Canoo is currently testing vehicles for various government agencies but is facing financial challenges, reporting only $19.1 million in cash as of June 30 [5] Leadership Changes - The company has seen a steady loss of its founding team, with key figures such as co-founder and former CEO Stefan Krause and chief designer Richard Kim leaving in recent years [6]