Ulrich Kranz, ex-CEO of the electric vehicle firm Canoo and a critical player in Apple’s automotive project, is embroiled in an SEC lawsuit, according to Bloomberg. The U.S. Securities and Exchange Commission alleges that Kranz made unreasonable revenue forecasts for Canoo and misrepresented his compensation.
Apple Car Yellow Wheel Icon Feature In 2021, Apple brought Ulrich Kranz on board for its car project. Notably, Kranz founded Canoo, the autonomous vehicle start-up, after a three-decade-long tenure at BMW. Although Canoo is still operational, it might be best recognized for its distinct “Lifestyle Vehicle,” yet to hit the public market.
Since Kranz’s departure, Canoo has faced challenges, though it successfully delivered three electric vans to NASA last month. These vehicles, intended for the Artemis moon missions next year, will carry astronauts, flight crew, and equipment to the launch pad.
Even though Kranz hasn’t been associated with Canoo since early 2021, the SEC is seeking to prohibit him from serving as an executive in a publicly traded company, which could potentially influence his prospective career path at Apple.
