Apple discussed acquisition options with EV startup Canoo in 2020

Posted:
in General Discussion edited January 2021
Apple met with California-based electric vehicle startup Canoo in early 2020 as part of its efforts to further the development of its own "Apple Car" project.

Credit: AppleInsider
Credit: AppleInsider


The meetings took place in the first half of 2020 and covered options from investments to a possible acquisition, people familiar with the matter told The Verge.

Reportedly, Apple was initially drawn by Canoo's scalable electric vehicle platform. Compared to other automakers and startups, the platform integrates more of a vehicle's electronics and allows for greater flexibility in cabin design. Canoo, for its part, was interested in taking an investment from Apple. However, the talks fell apart and Canoo went public by merging with a blank check fund in 2020.

The news of Apple's interest in Canoo comes amid reports that the Cupertino tech giant is negotiating with Hyundai to manufacture an autonomous electric vehicle by 2024.

In February 2020, Hyundai and Canoo announced plans to co-develop electric vehicles. That announcement and any potential partnership between the two car companies appears to be unrelated to Apple's involvement with either one.

Apple's work on autonomous vehicle systems has been a poorly kept secret for years. The company's vehicle division, internally dubbed Project Titan, has been developing self-driving car technology since at least 2014. Originally thought to be focused on developing an actual production vehicle, the goal of the project was shifted to creating the underlying autonomous systems of a self-driving car. In recent years, it appears that Apple has circled back to creating an actual "Apple Car."

Rumors and speculation surrounding an Apple electric vehicle picked up again in December 2020 when Reuters reported that the company could debut a vehicle with "next level" battery technology by 2024.

Oft-accurate TF Securities analyst Ming-Chi Kuo has proposed that the "Apple Car" may not arrive until 2025 at the earliest. At least one report claimed that the project is so immature that it would take five to seven years for an "Apple Car" to come to fruition.

Comments

  • Reply 1 of 14
    cornchipcornchip Posts: 1,921member
    Name = DOA.
    watto_cobra
  • Reply 2 of 14
    I’m still waiting for the apple branded television set. 
    davgregwatto_cobra
  • Reply 3 of 14
    I’m still waiting for the apple branded television set. 
    Okay, Gene.
    gregoriusmlolliverwatto_cobra
  • Reply 4 of 14
    jas99jas99 Posts: 122member
    The Apple branded television set will be supplanted by Apple glasses, which will also supplant all computer monitors.
    I would not want to be a manufacturer of computer monitors.
    watto_cobra
  • Reply 5 of 14
    With all those rumors around Apple Car lately, there is one thing for sure: Apple Car is coming closer and closer to see finally 
    a daylight.
    lolliverwatto_cobra
  • Reply 6 of 14
    MplsPMplsP Posts: 3,714member
    qwerty52 said:
    With all those rumors around Apple Car lately, there is one thing for sure: Apple Car is coming closer and closer to see finally 
    a daylight.
    I was noticing the same thing, too - suddenly there’s a slew of miscellaneous Apple car rumors coming out. Did someone lose their job and start blabbing? 
    qwerty52watto_cobra
  • Reply 7 of 14
    toddzrxtoddzrx Posts: 244member
    MplsP said:
    qwerty52 said:
    With all those rumors around Apple Car lately, there is one thing for sure: Apple Car is coming closer and closer to see finally 
    a daylight.
    I was noticing the same thing, too - suddenly there’s a slew of miscellaneous Apple car rumors coming out. Did someone lose their job and start blabbing? 
    No, just more pipe dreaming over a car we’ve heard about for a decade on AI that’s always a couple years away.  
    qwerty52watto_cobra
  • Reply 8 of 14
    byronlbyronl Posts: 257member
    they should buy lucid!
    watto_cobra
  • Reply 9 of 14
    davgregdavgreg Posts: 995member
    I will believe Apple is stupid enough to dilute the brand by selling cars when I see it.

    Of course they have already diluted the brand with streaming content.
  • Reply 10 of 14
    thrangthrang Posts: 949member
    davgreg said:
    I will believe Apple is stupid enough to dilute the brand by selling cars when I see it.

    Of course they have already diluted the brand with streaming content.





    tmaywatto_cobrabeowulfschmidt
  • Reply 11 of 14
    crowleycrowley Posts: 10,453member
    thrang said:
    davgreg said:
    I will believe Apple is stupid enough to dilute the brand by selling cars when I see it.

    Of course they have already diluted the brand with streaming content.




    Also:

    https://www.forbes.com/the-worlds-most-valuable-brands/#6bb7c45f119c
    edited January 2021 watto_cobrabeowulfschmidt
  • Reply 12 of 14
    AI_liasAI_lias Posts: 430member
    jas99 said:
    The Apple branded television set will be supplanted by Apple glasses, which will also supplant all computer monitors.
    I would not want to be a manufacturer of computer monitors.
    Won’t the glasses mess up you vision by forcing you to focus so close all the time? Doesn’t sound very healthy to me. 
  • Reply 13 of 14
    AI_liasAI_lias Posts: 430member
    Before tackling a car, they should figure out such business and tech limitations that prevent a 16” consumer-priced laptop. 
  • Reply 14 of 14
    byronlbyronl Posts: 257member
    AI_lias said:
    jas99 said:
    The Apple branded television set will be supplanted by Apple glasses, which will also supplant all computer monitors.
    I would not want to be a manufacturer of computer monitors.
    Won’t the glasses mess up you vision by forcing you to focus so close all the time? Doesn’t sound very healthy to me. 
    no. AR glasses don’t work like that. they’re not simple transparent displays. they’re a lot more complex, this is why they’re quite bad rn. they give you the impression the images are far apart, and your eyes need to focus on the area the object appears to be in the real world
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