In 2020 Apple will have started negotiations with the startup Californian, Canoo, a young company dedicated to electric cars and autonomous vehicles. According to the publication The Verge , exclusively, these efforts are part of Apple’s secret plan to assert themselves in the future in the electric mobility market.
The meetings will have taken place during the first half of 2020, according to three sources who provided statements to the aforementioned publication . On the table were themes such as the purchase of the startup , as well as the investment by Apple.
The most recent Apple Car chapter
Canoo’s premise is the platform for a modular, or better, expandable electric vehicle. The young company calls it the concept of skateboard , and through the images that illustrate the article we were able to clarify the core of its proposal. This is also what put Canoo on the radar of the giant in Cupertino.
Another of Canoo’s highlights is the degree of integration of electronic components, superior to the proposals of other startups and major automobile manufacturers. Features that make your solutions more flexible and adaptable.
In summary, it was the flexibility in the design and concept of the electric vehicle platform that attracted Apple’s attention. Something that also tells us what Apple is looking for, or values more for a future autonomous vehicle, the Apple Car.
The startup was more interested in an investment by Apple
The negotiations will not have borne fruit, with Canoo preferring a capital investment by Apple. We don’t know if Tim Cook’s company was determined to buy this young stuartup, but negotiations ended up falling apart.
Speaking to The Verge , Canoo’s executive director stated that the company does not discuss strategic decisions, nor does it disclose such details unless it considers it appropriate. When questioned by the same entity, Apple referred to silence.
Meanwhile, also Reuters reported Apple’s interest in Canoo, in the sense of developing its electric and autonomous car. This is one of Apple’s best kept secrets, but it can give us the first fruits already at 2024.
“Project Titan”, Apple’s secret project
Internally dubbed ” Project Titan “, this is one of Apple’s most ambitious projects and has recently involved a big name in the automotive industry, Hyundai. It is also one of the projects that most facets have acquired over time.
The current understanding suggests that Apple is now focused on creating an autonomous electric vehicle. To this end, it will be meeting with various entities in the automotive sector, from the largest companies such as Hyundai, to the youngest such as Canoo.
Looking for partners that can handle the construction and development of the main aspects of an electric car, from technical expertise and mechanical implementation to production and its supporting infrastructure.
From Hyundai to Canoo, Apple’s possible partnerships
Both entities – Hyundai and Canoo – will have been involved in the development of new concepts for electric cars at the beginning of 2020, in accordance with The Verge. At that time, Apple had not yet been involved with these companies.
There were, it seems, agreements to be concluded between both companies, but without terms are known. There is a lot of backstage work taking place, but all parties do their best to keep developments secret.
It can also be said that Canoo was founded in 2017 by a small group of BMW engineers and executives who separated from Faraday, a company that promised to compete with Tesla, but that even now he was unable to put a car on the market.
Negotiations with Apple took place at a crucial time for Canoo, startup that spent 182, $ 3 million in 2019 when investing in a functional prototype. The company will have entered 2020 with only millions in the bank.
The future Apple Car remains shrouded in mystery, but it is now settled that the Cupertino giant seriously considering a bet in this electric mobility market.
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