Apple held talks with EV startup Canoo about a potential acquisitionApple was looking for another EV acquisition, but this one didn't work out.
What you need to know
Apple held talks with EV startup Canoo about acquiring the company.
The talks fell apart since Canoo was more interested in investment.
As reported by The Verge, Apple held talks in the first half of 2020 with Canoo, an electric vehicle startup from California. Two people familiar with the meetings say that topics ranged from investment to even the possibility of an acquisition. These meetings are notable as rumors continue to build about Apple's plans to release its own autonomous electric vehicle.
According to the sources, Apple became particularly interested in Canoo because of its different approach to the vehicle platform and its steering technology.
Canoo's scalable electric vehicle platform, or "skateboard," is largely what drew Apple's interest, the people said. The platform is different from ones developed by other startups and larger automakers because it integrates m...
Source:
Apple held talks with EV startup Canoo about a potential acquisition
