Ulrich Kranz Joins Apple As
CEO of Canoo Inc.
Previously, he was a BMW executive and helped launch BMW's all-electric i3
hatchback and hybrid i8 sports car. Now, he will be working with Apple on
its electric vehicle platform.
Ulrich Kranz is a former BMW executive
During his career at BMW, Ulrich Kranz worked on both the i3 and the i8
hybrid models. He also served as the senior vice president of BMW's electric
car division.
Before joining Apple, Kranz was CEO of self-driving electric vehicle start-up
Canoo. He resigned from Canoo in April.
Apple is in the early stages of developing autonomous vehicle technology.
It has been testing self-driving software in California. It plans to have an
automated vehicle by 2024. The company has also been talking with
Hyundai about manufacturing a car.
Kranz spent half of his career at BMW. He worked on the Mini and SUV
divisions as well as the sports car teams. He also led the development of
BMW's i3 and i8 electric cars.
Kranz co-founded Canoo in 2017 with Stefan Krause. Canoo began selling
subscription-based EVs, but then pivoted into selling commercial vehicles.
It recently announced an all-electric van that includes a battery pack and
electric motors. The company is also working on a self-driving electric car.
He helped launch BMW's all-electric i3
hatchback and hybrid i8 sports car
During a recent meeting with Apple CEO Tim Cook, BMW CEO Harald
Krueger announced a strategic shift in BMW's electric vehicle strategy. In
particular, Krueger stated that the company would launch additional i-
Series electric vehicles in the near future.
One of those vehicles is the BMW i3 hatchback and hybrid i8 sports car. The
i3 was BMW's first mass-market electric vehicle. This model was also the
first to launch BMW's new sub-brand i3.
The i3 is a plug-in hybrid with 129bhp and an electric-only range of 23
miles. It uses a 2.0-litre four-cylinder petrol engine and an electric motor
mounted in the gearbox.
In addition to the i3, BMW will also launch a fully electric version of the 3
series. That model is expected to go on sale next year.
BMW's other major electric vehicle initiative will come with the iNEXT line of
vehicles, which will be launched in 2021. These vehicles will feature a more
advanced powertrain and an optional self-driving mode.
He co-founded Canoo
Founded by nine former BMW and Ford executives, Canoo is an electric
vehicle (EV) startup. The company has plans to build a 400-acre plant near
Tulsa, Oklahoma. It will produce a variety of vehicles, including a pickup
truck, a multi-purpose delivery vehicle, and a lifestyle vehicle.
The company expects to have its first vehicles available to the public in the
fourth quarter of 2023. Canoo has signed a contract with a third-party for
initial vehicle production. It also plans to begin manufacturing in the U.S.
and Europe by 2023. The company has already hired 300 people. Its main
manufacturing facility is in Pryor, Oklahoma, about 45 minutes west of
Tulsa.
Canoo received a $300 million incentive package from the state of
Oklahoma. It also has a deal with Hyundai Motor Group to use its tech
platform. The company plans to offer customization, maintenance, and on-
demand upgrades. It has more than 9,000 refundable deposits from
customers.
Canoo has received a $35 million investment from private equity firm AFV
Partners, which owns 19 percent of the company. The firm's shares are
worth $190 million at current prices.
He will work on Apple's electric vehicle platform
Earlier this month, Apple confirmed that it has hired Ulrich Kranz, the former
co-founder and chief executive officer of electric vehicle startup Canoo
Inc. The news comes just weeks after Apple CEO Tim Cook hinted that the
company may be developing autonomous vehicle technology for its "Apple
Car."
Kranz was an executive at BMW and BMW Mini divisions, as well as BMW's
SUV teams. He also led the battery-powered vehicle skunkworks that
developed the BMW i3 compact. He then left BMW at the end of 2016, and
co-founded Canoo with former BMW executive Stefan Krause.
Canoo is a California-based electric vehicle startup that has built its own
EV platform. The company has a deal with Hyundai to build vehicles on its
platform. Canoo has also sourced additional funding. The company is
hoping to build its first electric car by the end of this year. However, it may
not be able to produce as many electric vehicles as originally planned.
Kranz worked for BMW for 30 years. He was the executive in charge of the
BMW i3 and i8 development periods. He also helped launch the BMW i3
hatchback.