Rumor | Apple looks to acquire the start-up Canoo to bolster its e-vehicle division

Apple is said to have big dreams for its upcoming foray into the automotive industry, with a first-gen vehicle that might emerge as autonomous, ultra-premium or both. Now, according to Mark Gurman, it intends to absorb another start-up in the electric mobility sector in its drive to become a leader in this industry.

Canoo aims to launch its first-gen vehicle, the SUV-like Lifestyle, by the end of 2022 for US$40,000 or less. However, it might really owe its ability to attract funding to the innovative platform it has developed. It is rated to be vehicle type-agnostic, meaning that the same one from the Lifestyle can also be applied to others such as a possibly upcoming pick-up truck.

Despite this, Canoo is rumored to be in trouble, and might thus welcome Apple's reported interest in an acquisition as a life-raft. However, it is also thought that the Cupertino giant might only really want to augment its existing EV division with the start-up's engineers as new personnel, and just might leave the company's tech by the wayside in the long run.