Apple reportedly negotiated with EV Canoo, an electric car start-up

According to information from The Verge, Apple has started negotiations with the EV start-up Canoo during the year 2020 in order to make an investment or even a total acquisition of the young automotive company. The same source tells the newspaper that the discussions are now over and that no agreement has been reached between the two firms.

After confirmed rumors with Hyundai,possible discussions with Mercedes, it seems that behind the scenes, discussions around the Apple Car, Apple's autonomous car project, are becoming more and more concrete. During discussions with Canoo, Apple reportedly showed keen interest in the start-up without succeeding in acquiring it. Although little information has been given on the reasons for the end of negotiations, sources close to this matter affirm that the stem-by-wire technology, owned by the start-up, would have greatly interested Apple. But for its part Canoo, in full development, did not want to hear about a takeover, and would have only asked for an investment, something which Apple refused to do.

The same vision of the car

More broadly, Apple's interest in this young company can be explained by the shared vision that the two firms have around the design of an electric vehicle. Apple thus wanted to recover the technologies of the young start-up and develop its own autonomous electric car model. The purchase of this young company could even have allowed Apple to design its own car, without needing the help of a manufacturer.

But unlike Hyundai, Canoo has decided not to give more weight to these rumors. Having recently entered the stock market, the young company will now try to find a place in the very closed world of the automobile industry. Apple for its part, as usual, refused to comment on The Verge's publication.

An agreement with Hyundai?

This new information suggests that the outcome around the Apple Car “Titan” project is not so far away. According to the most recent information,discussions with Hyundai are still ongoing, and the two companies are expected to sign an agreement during the month of March.

If for the moment nothing has yet been signed around the Apple Car, the Apple car remains a fairly vague project in reality. According to Ming-Chi Kuo, you will have to be patient before being able to get into a vehicle from the Cupertino company. According to his information,Apple cars won't see the light of day until at least 2024, but much more distant dates have also been mentioned.