Apple met with the launch of California-based electric vehicle Canoo in early 2020 as part of its efforts to drive the development of its own “Apple Car” project.
The meetings took place in the first half of 2020 and covered options from investments to a possible acquisition, according to people familiar with the subject. The Verge.
According to reports, Apple was initially attracted to Canoo’s scalable electric vehicle platform. Compared to other car manufacturers and startups, the platform integrates more of a vehicle’s electronics and allows for greater flexibility in cabin design. Canoo, meanwhile, was interested in taking an investment from Apple. Still, talks collapsed and Canoo went public as it merged with a blank check fund in 2020.
News of Apple’s interest in Canoo appears amid reports that technology giant Cupertino is negotiating with Hyundai to manufacture a standalone electric vehicle by 2024.
In February 2020, Hyundai and Canoo announced plans to jointly develop electric vehicles. This announcement and any possible association between the two car companies does not appear to have anything to do with Apple’s involvement with either.
Apple’s work on autonomous vehicle systems has been a little-kept secret for years. The company’s vehicle division, dubbed internally Project Titan, has been developing self-driving car technology since at least 2014. It was originally thought to focus on the development of a real production vehicle. , the aim of the project was to create the underlying autonomous car autonomous systems. In recent years, it looks like Apple has re-created a real “Apple Car”.
Rumors and speculation about an electric vehicle from Apple resumed in December 2020, when Reuters reported that the company could launch a vehicle with “next-level” battery technology in 2024.
Ming-Chi Kuo, an analyst at TF Securities with precision, has proposed that the “Apple Car” not arrive until 2025 at the earliest. At least one report stated that the project is so immature that it would take five to seven years for an “Apple Car” to come to fruition.