Canoo and AVL partner to build proprietary software for electric vehicle safety features

Justin, TX/ Plymouth, MI, September 30, 2021: Canoo (Nasdaq: GOEV), a company manufacturing breakthrough electric vehicles (EVs), and AVL today announced their partnership to develop, test and validate Advanced Driver Assistance Systems (ADAS) feature software for Canoo’s Lifestyle Vehicle.

With the goal of using technology to help keep drivers and occupants safe and alert, the challenge is to design an intuitive human-first interface that provides vehicles’ feedback to drivers enabling them to make safe choices on the road while reducing distractions. AVL will be leveraging their expertise to support Canoo in developing ADAS features that are fully harmonized with Canoo’s native and proprietary platform design and electrical architecture. The software will be fully owned by Canoo to ensure security, safety, compliance and compatibility across vehicles, beginning with the Lifestyle Vehicle.

“Creating IP is a critical component of our proposition to providing value, safety and efficiency to our customers,” said Tony Aquila, Investor, Chairman & CEO of Canoo Inc. “We have architected an innovative and proprietary vehicle electrical system and a purposeful component set within our hardware. Our software needs to support this level of innovation,” said Peter Savagian, Chief Technology Officer of Canoo Inc.

Canoo is spearheading new EV technologies and doing so efficiently with an in-house team focused on innovation. Selecting partners and providers that are specialized to execute on the company’s mission to bring EVs to everyone ensures Canoo’s hardware and software are fully integrated and best-in-class.

The engineering services AVL will provide Canoo with include software development of 13 ADAS features comprising SAE Level 2 such as lane centering and adaptive cruise control. AVL will be defining dynamic KPIs for some of these features using their state-of-the-art AVL-DRIVE Autonomous™ software and providing efficient assessments of simulation outputs for various scenarios in a virtual validation environment by executing millions of test cases in the cloud.

“AVL continues to be the go-to resource for innovation and technology leadership around the world," said Stephan Tarnutzer, President of AVL. "With global expertise in connected and automated vehicle technology, we support Canoo in pioneering the next generation of vehicles—ones that are electric, automated, and accessible. The Lifestyle Vehicle will change the way people move, and we are excited to be a part of it.”

Canoo’s Lifestyle Vehicle – its first product to market – will start production in late 2022 and have Level 2 ADAS functionality at launch. It will be the first to market with fully redundant and autonomous-ready steer-by-wire. Canoo vehicles will also feature over-the-air update capabilities allowing the addition of new ADAS features as the technology continues to mature, providing additional return on investment and helping to maintain residual value to cater to Canoo’s multiple-owner lifecycle.

About Canoo

Canoo’s mission is to bring EVs to Everyone. The company has developed breakthrough electric vehicles that are reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that defies traditional ownership to put customers first. Distinguished by its experienced team from leading technology and automotive companies – Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space that is customizable across all owners in the vehicle lifecycle to support a wide range of vehicle applications for consumers and businesses.

Canoo has offices in Los Angeles, Dallas, Michigan and Minnesota. For more information, please visit www.canoo.com. For Canoo press materials, including photos, please visit press.canoo.com. For investors, please visit investors.canoo.com.

Media Contacts

Agnes Gomes-Koizumi

Vice President, Communications, Canoo

Agnes.Gomes-Koizumi@canoo.com

Josh Lupu Director Marketing,

AVL North America

​​​​​​​Joshua.Lupu@AVL.com