Apple Car

We’ve been hearing rumors and reports about the Apple Car for several years now, but the whole project is still something of a mystery.

In typical Apple style we’ll likely have to wait for the official launch. But that date may be edging a little closer, thanks to the possible acquisition of a struggling car startup.

According to Bloomberg’s Mark Gurman, in his latest Power On newsletter, Apple could be targeting Canoo for acquisition.

Canoo was found ed in 2017, and has been working towards selling a “lifestyle” EV in 2022, as well as production of vans and other commercial EVs.

Last week Canoo warned investors that it may not have money to continue operations.

While it has sourced some additional funding, Canoo may not be able to produce as many EVs as it had originally planned.

That puts the company in prime position for a buyout, and Gurman has suggested Apple could be waiting in the wings.

Interestingly Apple and Canoo do have a history together. Gurman notes that the two companies have been in talks together in the past,

with discussion ranging from simple investment to a full-scale buyout. Former Canoo CEO Ulrich Kranz has also join ed Apple’s car project,

alongside a number of the company’s former engineers.