OK this is not meant to be a pump post, but rather a timeline of events and some speculation that there is a good chance GOEV's skateboard platform could actually end up being the base for the Apple car. I think Canoo is an awesome company in it's own right, but just presenting some potentially interesting info for folks here.
Timeline:
- July 2019 –Hyundai is developing an electric vehicle platform called E-GMP (https://www.electrive.com/2019/06/25/hyundai-is-developing-an-ev-platform/)
- Feb 2020 – Canoo and Hyundai co-developing skateboard for Hyundai's and Kia's future EVs / PBVs (https://www.hyundainews.com/en-us/releases/2982)
- Aug 2020 - Investor presentation restates Hyundai/Canoo partnership and also mentions a tech company using Canoo as base platform for it's smart car / AV (potentially Apple?)
- Dec 2020 – Canoo executive chairman says Apple entering market is a “very good thing” (https://finance.yahoo.com/news/why-apple-entering-the-ev-market-is-a-good-thing-113808559.html)
- Dec 2020 – Hyundai presents e-gmp at a digital event, which does not look like Canoo tech (https://www.electrive.com/2020/12/02/hyundai-presents-e-gmp-electric-car-platform/)
- Jan 2021 – Hyundai and Apple confirmed to be working on Apple car; Kia to manufacture (https://www.cnet.com/roadshow/news/apple-car-kia-hyundai-work/)
- Jan 2021 – Several sources reveal Apple attempted to buy Canoo and was turned down; when asked to comment on it the exec chairman says “Canoo doesn’t openly comment on strategic discussions, relationships or partnerships unless deemed appropriate,” (potentially nothing but interesting choice of verbiage) (https://www.theverge.com/2021/1/12/22225026/apple-canoo-acquisition-investment-electric-car-goev)
- Feb 2021 – Analyst says “initial” Apple car will be based on e-gmp platform; car won’t be released until 2024/2025 (https://seekingalpha.com/news/3657363-apple-will-team-with-hyundai-for-first-apple-car-model-says-noted-analyst)
- Feb 2021 – Apple to invest 3.6B in Kia for EV partnership (likely manufacturing capacity) and partnership confirmed through multiple sources (https://www.bloomberg.com/news/articles/2021-02-03/apple-to-invest-3-6-billion-in-kia-to-make-evs-donga-says)
My rationale:
Hyundai was already building the E-GMP platform in 2019 and was still actively seeking partners to develop future tech for skateboard and formed a partnership with Canoo to do exactly that. They indicated that this co-developed platform would be used in future vehicles. The E-GMP platform they eventually released seems way less advanced than Canoo's platform in the photos (e.g. it has struts vs Canoo's with leaf spring suspension), so the E-GMP platform could be the intermediate step until the co-developed platform is ready.
Apple tried to buy Canoo for it’s skateboard platform in 2020 and was turned down by Canoo. This makes a lot of sense for Apple because Canoo platform is really advanced (steer-by-wire, leaf spring suspension, crash test incorporated into skateboard, batteries incorporated into structure, very modular and fast development times/costs) and lets Apple focus on what they excel at, which is tech and quick development cycles.
Apple eventually forms a manufacturing partnership with Hyundai and it's rumored they're using Hyundai skateboard in the "initial" version, which is important because it signals they still want to use 3P skateboard. It seems that while they are likely using the E-GMP platform for the first iteration, the 2024 timeline easily puts them in line to use the new Canoo/Hyundai platform when it is done, which is consistent with the fact that Apple has already tried to purchase Canoo specifically for it's skateboard platform.
tl;dr - seems very possible that the Apple car will use the Canoo skateboard as the foundation
Submitted February 03, 2021 at 07:45PM by OE4000 https://ift.tt/2MTufe0
