According to information from The Verge, Apple would have entered into negotiations with the start-up EV Canoo during the year 2020 in order to make an investment, see a total acquisition of the young automotive company. The same source told the newspaper that the discussions are now over and that no agreement has been reached between the two firms.
After confirmed rumors with Hyundai, possible discussions with Mercedes, it seems that behind the scenes, the discussions around the Apple Car, Apple’s autonomous car project are more and more concrete. During discussions with Canoo, Apple would have shown a keen interest in the start-up without succeeding in acquiring it. If little information has been given on the reasons for stopping negotiations, sources familiar with this matter claim that the stem-by-wire technology, owned by the start-up, would have greatly interested Apple. But for its part, Canoo, in full development, did not want to hear about a takeover, and only asked for an investment, something Apple refused to do.
The same vision of the car
More broadly, Apple’s interest in this young company can be explained by the common vision that the two firms have around the design of an electric vehicle. La Pomme thus wanted to recover the technologies of the young start-up and develop its own model of autonomous electric car. The takeover of this young company could even have allowed Apple to design its own car, without needing the help of a manufacturer.
But unlike Hyundai, Canoo decided not to value these rumors any more. Recently listed on the stock market, the young company will now try to find a place in the very closed environment of the automotive industry. Apple for its part, has, as usual, refused to comment on the publication of The Verge.
An agreement with Hyundai?
This new information suggests that the outcome around the Apple Car “Titan” project is not so far away. According to the most recent information, talks with Hyundai are still ongoing, and the two companies are expected to sign a deal sometime next March.
If for the moment nothing has yet been signed around the Apple Car, the Apple car remains a rather vague project in reality. According to Ming-Chi Kuo, it will take patience before being able to get into a vehicle from the Cupertino company. According to his information, Apple’s cars will not see the light of day until at least 2024, but much more distant dates have also been mentioned.