This Tesla competitor may be bought by Apple


Regularly, Apple acquires smaller companies. Among the main acquisitions of the Cupertino company, there was that of Beats for 3 billion dollars, or that of Shazam.

And according to a publication by Mark Gurman, Bloomberg journalist, Apple could well target an acquisition of a competitor of Tesla in electric vehicles: Canoo.

Why ? According to the reporter’s explanation, recently Canoo warned that it could end up running out of cash to continue its operations. And given the difficulties this company is facing, an acquisition by Apple would be the best possible option.

Apple would already be interested in this company in 2020

Moreover, the dialogue would be easy for both parties, since the former CEO of Canoo, Ulrich Kranz, would now work for Apple. The latter would also have former Canoo engineers on his team.

Moreover, the two companies would have already discussed before, since Apple would have already considered an acquisition or an investment in Canoo in 2020. But one of Bloomberg’s sources indicates that at this stage, Apple may not be interested in the Canoo’s technologies, but rather to its employees.

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As a reminder, the Cupertino company has been working on an electric and autonomous vehicle project for years. And according to Gurman, it has already made some acquisitions to beef up the team working on this automotive project. Apple has also recruited engineers from brands like Ford, Rivian, Tesla, BMW, Mercedes, Volvo and Waymo.

Of course, for the moment, this is only a hypothesis. But in any case, it would be logical for Apple to make many acquisitions, in order to accelerate its project.

Will acquisitions increase?

In the past, moreover, to launch products such as Siri, Apple Music or even macOS, the Cupertino company has relied on the engineers and technologies of smaller companies that it has acquired.

For the moment, Apple remains very discreet regarding its automotive projects. However, according to rumors, it would like to launch its first vehicle in 2025.

When the first Apple Car will be on the market, Apple will become a competitor of Tesla (besides Elon Musk already has a hostile behavior vis-à-vis Apple). Apple could also be in competition with Xiaomi. Indeed, this Chinese smartphone manufacturer also has an electric car project that it has already formalized. Its objective is to produce 300,000 vehicles per year from 2024.

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