Apple Met With Electric Vehicle Startup Canoo in Early 2020, But Talks Fell Apart

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Apple Met With Electric Vehicle Startup Canoo in Early 2020, But Talks Fell Apart

Apple held talks with electrical car firm Canoo in early 2020, in line with a brand new report from The Verge. Apple and Canoo mentioned a number of choices from an funding to an acquisition as a part of Apple’s efforts to additional its electrical car venture.


Canoo has developed a scalable, modular electrical car platform that drew Apple’s curiosity. It’s designed to assist a spread of auto functions for customers and companies, and as described by The Verge, it integrates extra of the automobile’s electronics for extra flexibility in cabin design.

Canoo hoped to safe an funding from Apple, however the talks deteriorated and finally, Canoo merged with Hennessy Capital Acquisition Corp. IV, elevating $300 million to finance the manufacturing of the Canoo minivan. Canoo plans to create business electrical autos like supply vans, plus a consumer-focused van.

In a press release, Canoo mentioned that it doesn’t “overtly touch upon strategic discussions, relationships, or partnerships, until deemed applicable,” and Apple additionally declined to touch upon The Verge‘s story.

Apple moved on to discussions with different producers, and in January, information broke that Apple has entered into negotiations with Hyundai that might see the 2 firms partnering on electrical car manufacturing for Apple’s self-driving automobile. Apple and Hyundai might attain an settlement as soon as March.

Apple is aiming to develop a self-driving automobile that might be obtainable to customers, however a latest report from Bloomberg has prompt that the automobile venture is within the early phases and it will likely be at least half a decade earlier than Apple is able to launch an electrical car.

Coincidentally, Canoo in February 2020 signed a cope with Hyundai Motors and Kia Motors for the event of a brand new electrical car platform, however that seems to be separate from Apple’s potential settlement with Hyundai.

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