SEC to file lawsuit against key personnel of Apple car project

According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) plans to file a lawsuit against Ulrich Kranz, a key figure in Apple’s car project, accusing him of violating related regulations while serving as chief technology officer of startup Canoo. Securities regulations

Urik Kranz is an experienced expert in the automotive field. He has worked at BMW for more than 30 years and led the Project i electric vehicle project. During this period, his team conducted many cutting-edge explorations in the lightweighting of electric vehicles, especially achieving remarkable results in BMW's carbon fiber body technology. These efforts were highly praised by Apple CEO Tim Cook

Kranz joined Faraday Future as chief technology officer in 2017, but in 2018 In 2006, he co-founded the self-driving car startup Kanu Automotive with his partners. He led the development of key electric vehicle modular vehicle platforms and vehicle architectures. Recently, Kranz announced that he would join Apple and be responsible for developing the model platform for the Apple car project. According to the editor's understanding, since Kranz left Canoo, the company has been struggling to maintain operations. Notably, last month Canoo successfully delivered three electric vans to NASA that will be used on next year's Artemis lunar mission

Reasons for SEC lawsuit It was Kranz who provided unreasonable revenue forecasts to Canoo and inflated his compensation. This behavior may affect his future opportunities to hold executive positions in public companies and may also have an impact on his career development at Apple

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