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

A first-gen Canoo vehicle render. (Source: Canoo)
A first-gen Canoo vehicle render. (Source: Canoo)
Apple is a major electronics OEM also now linked to the launch of its very first Car in the next few years. Now, the Cupertino giant is said to further those ambitions through a buyout of Canoo, a start-up in the same space. It may be a saving grace for the fledgling company, although it seems Apple may not exactly want it for the innovation it purports to offer.

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.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2022 05 > Apple looks to acquire the start-up Canoo to bolster its e-vehicle division
Deirdre O'Donnell, 2022-05-15 (Update: 2022-05-17)