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.
According to the report, Apple was more interested in an acquisition but Canoo wanted investment, so the talks eventually fell apart.
Neither company would go into detail about the talks that were had, which is relatively standard in the industry.
Rumors continue to swirl about Apple's plans for its own electric, fully autonomous car. Just yesterday, JP Morgan predicted that Apple plans to build its own car rather than partner with automakers and that the car will be fully autonomous, meaning that it will not require a driver behind the wheel (if a wheel exists at all).
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Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.