Netflix for cars: This startup will offer subscription-based electric cars

Subscription-based services are gaining momentum these days. After Google unveiled Stadia, a Netflix-like service but only for gaming, we have come across a new startup named Canoo that offers subscription-based electric cars. Subscription-based services are highly common in the content industry. For example, news, videos, songs. In fact, we have also started to see this trend picking up in the hotel and food industry when it comes to certain benefits and discounts.

Coming back to Canoo, it was announced only recently and previously it was known as Evelozcity. Canoo subscribers will have an option to select from the wide variety of electric vehicles. However, it is limited to subscription-only service. According to the company, there will be different subscription plans available for the customers. Interestingly enough, there will be 'no specific duration commitment.'

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As for the main attractions, Canoo's subscriptions last months or years depending on individual subscriber's preference. Subscribers will have the option to choose from different 'top hats' pertaining to the car's interior. Canoo claims that drivers will experience a compact environment. According to The Verge, subscriptions could last from a month up to 10 years.

"We picked Canoo because it sounds distinctive, looks cool and creates a feeling of both relaxation and movement," said Stefan Krause, who is In Charge of Canoo. "For thousands of years, a canoe has been a simple, sustainable transportation device used all over the world."

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Canoo has plans to come up with four different styles of an electric vehicle by the year 2021: A lifestyle vehicle, last-mile delivery vehicle, ride-hailing vehicle, personal commuter vehicle. So as you can see, we can expect the company to expand into new subscriptions plans in the future. 
 
Canoo has secured $1 billion in funding, Reuters reports. However, there is no clarity whether the company has plans to get into car manufacturing anytime soon.