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Apple Reportedly Met With Electric Vehicle Startup Canoo in Early 2020

Apple Reportedly Met With Electric Vehicle Startup Canoo in Early 2020

Apple and electric vehicle company Canoo held talks in early 2020, says a new report from The Verge. While the pair discussed several options, including everything from an investment to an outright acquisition, the talks fell apart before an agreement could be reached.

Canoo has developed a scalable, modular electric vehicle platform designed to support a range of vehicle applications for consumers and businesses. As noted by The Verge, it integrates more of the car’s electronics for more flexibility in cabin design. Canoo has plans to create commercial electric vehicles and well as a consumer-focused van.

When Canoo failed to secure an investment from Apple, it merged with Hennessy Capital Acquisition Corp. IV, raising $300 million to finance the production of the Canoo minivan.

Canoo released a statement that said that it does not “openly comment on strategic discussions, relationships, or partnerships unless deemed appropriate.” As might be expected, Apple also declined to comment on The Verge‘s story.

Apple has recently been reported to be in discussions with Hyundai to partner on a self-driving electric vehicle designed by Apple and using the Cupertino firm’s technology. Apple and Hyundai could reach a deal as soon as March.

It should be noted that Canoo in February 2020 signed a deal with Hyundai Motors and Kia Motors for the development of a new electric vehicle platform. However, that appears to be separate from any deal Apple might reach with Hyundai.

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