Apple Was In Talks To Acquire EV Startup Canoo In 2020

Given that Apple has no commercial experience when it comes to making its own cars, it’s not surprising that the company is using its immense resources to try and acquire companies that might have said experience. In fact, a report from The Verge revealed that Apple tried to acquire EV startup Canoo back in 2020, but then those talks fell through and the acquisition obviously did not happen.

Unlike other carmakers that are transitioning to making EVs, Canoo differs slightly due to its “skateboard” design that allows for scalable electric cars. This was apparently a concept that drew Apple to them in the first place. The report claims that Canoo was more interested in receiving an investment, while Apple was more keen on acquiring them outright, which ultimately led to whatever potential deal they had to fall through.

It would have been interesting to see how acquiring Canoo would have aided Apple’s electric car efforts. Previously, Tesla’s CEO Elon Musk had claimed that he had, at one point in time, tried to sell Tesla to Apple, but Apple’s CEO Tim Cook did not even take that meeting. More recently though, we have heard that Hyundai and Apple are in talks where the South Korean carmaker could help with the production of Apple’s own electric car.

Nothing has been confirmed yet, but if recent reports are accurate, the rumored Apple Car is still probably 5-7 years in the making.

Tyler Lee
Categories: Apple, Rumors, Transportation
Tags: Electric Cars