Canoo isn’t the only startup Apple acquired for its driverless electric car business – it acquired Drive.AI in 2019.
Apple has aggressively stepped up its self-driving car business over the past two months
A report from The Verge revealed that Apple was in talks with start-up EV Canoo for a strategic acquisition or investment in the first half of 2020. Apple was reportedly interested in Canoo’s unique transmission which features an upgradeable skateboard. Apple was probably interested in the start-up because of the “Project Titan” which has been called the Apple Car project. Canoo’s skateboard further integrates the electronics of the vehicle and also features wire steering technology which allows flexibility in the interior design of the car. Apple would have developed a vehicle intended for autonomous passive transport.
Apple would be interested in acquiring the company while Canoo wanted a larger investment. The two companies halted trading when Canoo joined the NASDAQ in December. Canoo executive chairman Tony Aquila declined to discuss startup strategies in a statement to The Verge.
The news comes at a time when Apple has reportedly signed an agreement with Hyundai to manufacture the Apple car. Canoo isn’t the only startup Apple has acquired for its driverless electric car business – it acquired Drive.AI in 2019. Apple has also poached many Tesla engineers and senior executives for the same.
While there is a lot of gossip about the Apple car, it could be around 5-6 years before it comes to fruition.
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