Apple hires former Canoo CEO to push electric car project

Apple hires former Canoo CEO to push electric car project

Kranz was running Canoo when it held talks with Apple in 2020 Canoo’s EV platform pitch was attractive enough that Apple held talks with the startup in early 2020, as The Verge exclusively reported earlier this year. Talks between the two companies eventually broke down, though, as Canoo preferred to take an investment, while Apple was interested in an acquisition. Canoo also had an agreement with Hyundai to build vehicles based on the platform, but the startup has since walked away from that deal.

Kranz was one of the executives who helped launch BMW’s all-electric i3 hatchback and hybrid i8 sports car. Shortly after he left the German automaker at the end of 2016, he and fellow BMW executive Stefan Krause were tapped to help turn around struggling EV startup Faraday Future. The pair clashed with Faraday Future’s founder, though, and in late 2017, they left and formed what eventually became Canoo. Kranz, Krause, and a handful of other expats from BMW and other legacy automakers came up with an all-electric van that they planned to sell on a subscription basis only, which they revealed in 2019. The van was designed around a compact, modular platform that included the battery pack, the electric motors, and basically all of the vehicle’s electronics, which Canoo hoped to sell or license to other manufacturers. Kranz now finds himself near the top of a very large team inside Apple that is working on an electric, autonomous vehicle. Apple started the project in 2014, but it has gone through multiple revisions, with the company at one point focusing solely on developing autonomous technology. But over the last year, Apple has shifted back to trying to develop a vehicle and has reportedly held talks with multiple automakers as well as battery companies like China’s CATL.

Kranz was just one of a number of top executives who left Canoo over the last year. Krause, who was Canoo’s first CEO, departed last year. Canoo’s chief financial officer and its chief lawyer also left this year following the startup’s merger with a special purpose acquisition company, or SPAC. Five of the original nine co-founders remain with the company, while those who’ve left have been replaced by people close to the company’s new CEO, Tony Aquila, who took over after Canoo went public as a result of the SPAC merger. Aquila has since pivoted Canoo away from the subscription model idea and is instead focused on creating commercial electric vehicles for small businesses. Aquila detailed the changes he was making to the company on Canoo’s first call with investors as a public company in March. Kranz was not on that call, despite still being CEO at the time. As The Verge first reported late last year, Kranz’s contract with Canoo was renegotiated as part of the SPAC merger.

The News Highlights

  • Apple hires former Canoo CEO to push electric car project
  • Check the latest world news updates and information about business, finance, technology and more.
  • Check the latest update on tech news
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Elite Pharmaceuticals, Inc. reports financial results for the fiscal year ended March 31, 2021 and provides information regarding the conference call

Elite Pharmaceuticals, Inc. reports financial results for the fiscal year ended March 31, 2021 and provides information regarding the conference call

Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops niche generic products. Elite specializes in developing and manufacturing oral, ...
OnePlus Nord CE 5G is optimized for value for money still do you want one?

OnePlus Nord CE 5G is optimized for value for money still do you want one?

Design-wise the two Nords are very similar, though the CE is fractionally thinner and lighter. In fact, it’s the thinnest and lightest OnePlus phone since ...
The PS5 version of all five Shantae games, including the Game Boy Color original, is hair-raising

The PS5 version of all five Shantae games, including the Game Boy Color original, is hair-raising

Furthermore, collectors can look forward to physical copies of all five titles on PS5, courtesy of Limited Run Games. One thing to note is that, whether ...
Shredders, a snowboarding open-worlder, is revealed during the Xbox and Bethesda Showcase

Shredders, a snowboarding open-worlder, is revealed during the Xbox and Bethesda Showcase

Yesterday’s Xbox & Bethesda Showcase was filled with action-packed titles, almost all of which are coming to Xbox Game Pass on day one. Amongst them was ...
Beebe Healthcare Organizes Emergency Preparedness Exercise |  Health

Beebe Healthcare Organizes Emergency Preparedness Exercise | Health

A Black Hawk helicopter hovers over a landing zone manned by Beebe Healthcare nurses and National Guard members during a simulated transport of patients to ...
In-Shape Fitness Clubs Change COVID-19 Policies Effective Tuesday

In-Shape Fitness Clubs Change COVID-19 Policies Effective Tuesday

Source Reservations will still be required for studio classes, Kid Zone, pool lanes, tennis, pickleball and racquetball courts, the club said. A $5 monthly ...
Marnell Named Director of St. Croix Valley Center for  News Innovation |  The business

Marnell Named Director of St. Croix Valley Center for News Innovation | The business

Marnell holds a Ph.D. in business management – innovation and leadership from Capella University and an MBA from UW-River Falls. Prior to her role at the ...
How to secure your hybrid working, tips by Microsoft

The Microsoft Surface Duo 2 might be released this autumn, and there are six features it must include

What we’re calling the Surface Duo 2 could be an important reboot for Microsoft if it’s to compete with other foldable phones like the upcoming Samsung ...
Vineyard’s proposed decree could harm business

Vineyard’s proposed decree could harm business

However, with the doors set to open in September, Dinwiddie County is now preparing to update its Agri-Tourism Ordinance. “We already have 12 acres planted. ...
Michigan Health Officials Report 338 New Coronavirus Cases, 8 Deaths

Michigan Health Officials Report 338 New Coronavirus Cases, 8 Deaths

Source For all of the latest coronavirus information, including case numbers, deaths and vaccine totals, click here.  As of June 14, 4,899,411 Michiganders ...
Show next
Compsmag - Latest News from tech, business and health
Logo