US electric vehicle (EV) startup Canoo has attracted investments from two Taiwanese companies - touch module maker TPK Holding and passive component maker Yageo.
TPK will invest US$100 million in Canoo, while Yageo will participate in the equity investment of Canoo through its subsidiary Yageo Bermuda for an of US$10 million.
Canoo, based in Los Angeles, focuses on EV design and development. Canoo has designed a modular skateboard to deliver the maximum vehicle interior space per footprint area while, through its proprietary skateboard technology, offering low development cost and design flexibility for its internal B2C car models and its B2B strategic partners, according to Yageo.
Canoo is now projected to start its mass production in first-half 2022, said Yageo.
Canoo has also announced a planned merger with Hennessy Capital Acquisition Corp IV (HCAC), a special purpose acquisition company, seeking to make Canoo a publicly listed company.
Yageo said it has paid close attention to the development of automotive electronic technology in recent years, and has also continued to expand its global presence of automotive electronic components.
Following the acquisition of wireless and automotive component maker Pulse Electronics in 2018, Yageo has just completed the merger of Kemet, an automotive passive components supplier in 2020.