Apple Discussed Acquiring or Investing in Electric Startup Canoo in 2020

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Apple held conferences with Canoo, a California-based EV startup, within the first half of 2020. The dialogue between each corporations ranged from Apple investing within the startup to buying it outright. The startup was based in late 2017 by a small group of executives that have been initially part of Faraday Future, one other startup that was making an EV.

The Verge report states that Canoo’s “skateboard” scalable electrical car platform enticed Apple to the startup. Seemingly, Canoo’s strategy is totally different from different automakers and startups as a result of it integrates a lot of the electronics which permits for higher flexibility within the cabin design. One other spotlight of Canoo’s design is using steer-by-wire know-how which permits for higher design flexibility.

The California-startup was inquisitive about taking an funding from Apple however the talks between them in the end fell aside. Canoo in the end merged with Hennessy Capital Acquisition Corp IV and has change into a publicly-traded firm since then and raised $300 million. The startup goals to make business electrical autos like meals vans and supply vans utilizing its “skateboard” know-how. It additionally plans on providing an electrical van to shoppers on a subscription foundation.

In latest instances, rather a lot has leaked about Apple’s efforts on constructing its personal self-driving electrical car. The corporate is presumably seeking to accomplice with a big automaker to create the car offered they each have the identical aim of delivering high quality merchandise to shoppers. Apple is reportedly in talks with Hyundai, Mercedes-Benz, and different car makers with an aim to start production in 2024. One other report from Bloomberg had claimed that Apple’s self-driving electrical car continues to be within the early stages of development and at the least half a decade from launch.

[Through The Verge]

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