HCAC Merges With Canoo Electric Vehicle LOI hennessy capital acquisition

HCAC Merges With Canoo Electric

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https://octopusmoneymultipliers.com/2020/08/08/hcac-merges-with-canoo-electric-vehicle-loi-hennessy-capital-acquisition/

Canoo is challenging the traditional way of building, using and offering vehicles based on a threefold approach:

• A new business model that focuses on reducing production and infrastructure costs to make EV more affordable to customers.

• A fresh design capitalizing on the space EVs provide, looking like nothing on the road today and challenging the norms of space and function. The unique design points to the future of cars that are electric and autonomous.

• A membership model that puts an end to ownership, providing a hassle- and commitment-free car experience in modern cities.

yea the leasing program seems great at first glance

Canoo Selects NVIDIA DRIVE AGX Xavier Platform for Future Electric Vehicles
NVIDIA’s AI platform to power Canoo’s ADAS systems
Production vehicles to hit the road in late 2021
Canoo EVs designed to be adaptable for a software-defined, autonomous future

LOS ANGELES—May 14, 2020—Canoo, a Los Angeles-based company creating electric vehicles (EVs) for membership only, announced today that it has selected the NVIDIA DRIVE AGX Xavier™ AI compute platform for highly automated and autonomous driving features in its next-generation EV lineup.

The NVIDIA DRIVE AGX platform underpins the smart driver-assistance features currently being tested in Canoo’s pre-production vehicles. Canoo aims to bring its first production vehicle to market with level 2 capabilities in late 2021, featuring the scalable NVIDIA DRIVE™ architecture built in to allow for more advanced autonomous driving capabilities as they become available.

Canoo will offer EVs with smart driver assistance features to enable safer driving with intelligent notification systems. Utilizing a driver-facing camera, the vehicle delivers alerts only when the driver needs them. Facial recognition technology enables the vehicle to tell when the driver is distracted or likely to need assistance. Other systems that alert the driver even when he or she is paying attention are often turned off or silenced, so Canoo’s adaptive system ensures that the driver gets the information they need, when they need it.

The NVIDIA DRIVE AGX platform provides high-performance, energy-efficient compute for object detection and sensor fusion. State-of-the-art algorithms will inform the driver on what’s around the vehicle, including cross-traffic alerts, blind spot detection and pedestrian detection, as well as convenience features such as adaptive cruise control and lane-centering control. The software-defined platform also allows for more advanced features, like auto lane change, traffic light recognition and evasive steering to be introduced when they become available.

The NVIDIA DRIVE AGX self-driving compute platform is built on NVIDIA Xavier™, the world’s first processor designed for autonomous driving. The auto-grade Xavier system-on-a-chip (SoC) is in production today and architected for safety, incorporating six different types of processors to run redundant and diverse algorithms for AI, sensor processing, mapping and driving. Leveraging Xavier, DRIVE AGX platforms process data from camera, lidar, radar and ultrasonic sensors to understand the complete 360-degree environment in real time, localize itself to a map and plan a safe path forward.

“We have been working diligently to develop a bold new electric vehicle and partnering with NVIDIA, a global AI leader, is a natural choice,” said David Arft, in charge of Systems Integration for Canoo. “NVIDIA’s platform delivers the computing horsepower our neural networks need, as well as the scalable solution we want to provide.”

NVIDIA DRIVE also has the flexibility and scalability to deliver on the promise of Canoo’s autonomous driving roadmap. As developments in regulations, software-defined capabilities and hardware continue to make autonomy features more accessible to the mass market,