Canoo unveils Lifestyle Vehicle pricing and launches pre-orders, CEO discloses SEC investigation

Canoo Lifestyle Vehicle
Image via Canoo

Electric vehicle (EV) startup Canoo has announced pricing for its upcoming Lifestyle Vehicle, which the company expects to hit the streets next year. Canoo also revealed they are currently under investigation by the U.S. Securities and Exchange Commission (SEC).

Canoo Lifestyle Vehicle

With a fully refundable $100 USD deposit, customers can place a pre-order for one of four trim levels of the Lifestyle Vehicle – base, premium, adventure, and delivery.

Image via Canoo

While details of those trim levels are still being finalized, the company says they will range in price from $34,750 to $49,950 USD, before any available incentives or optional equipment.

The EV is expected to have an 80kWh battery pack which will provide up to 250 miles (402km) of range, and seat between 5 and 7 people.

Image via Canoo

SEC Investigates Canoo

After reporting their earnings on Monday, Canoo CEO Tony Aquila disclosed the company is currently under investigation by the SEC. Aquila revealed the information while talking to reporters, but did not take questions on the topic.

“We recently received a notice from the SEC that they are conducting an investigation. They characterize the process as a fact-finding inquiry,” said Aquila. (via Bloomberg)

The investigation is likely tied to Canoo’s recent merger with special purpose acquisition company (SPAC) Hennessey Capital Acquisition Corp. last year. The deal valued the EV maker at $2.4 billion.

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