But that’s not what happened at all? Apple wanted to acquire them, Canoo wanted investment.
I read that Apple walked away from the talks - assumed that they weren’t impressed with what was on offer.
If Apple did want to buy them then that’s a pretty big endorsement I suppose.
Social Sentiment Analysis:
Reuters posted Apple and Hyundai plan to release beta version, Apple has made no comment
The theory on why this may happen and how Canoo will benefit via user from reddit:
Canoo has already demonstrated their ability to engineer very Apple-esque products.
Hyundai does not have a production-ready autonomous platform.
Canoo already has a partnership with Hyundai, ongoing since February.
Hyundai has huge manufacturing capacity.
Canoo and Apple are located near each other.
Hyundai might open a plant in the US for the Apple venture.
🥸 Hyundai’s core value to Apple probably lies in their competence as a manufacturer.
“I can imagine Canoo working with Apple to engineer the Apple car using their IP, and Hyundai to manufacture it.
Maybe Canoo hasn’t announced their manufacturing partner yet because if Hyundai opens this US plant, they will be manufacturing all of the Canoo derivatives.” - Reddit users