According to reports on Canon Watch and Canon Rumors, the company filed patents in Japan for two new fast primes for the R line up of mirrorless cameras. The designs filed use a modern optical design for the front and rear lenses, with the rear lens elements on each shown to push right up against the back of the housing. This design choice follows how Canon has been producing most of its lenses for the RF system, which aims to bring the rear element as close to the sensor as possible. According to a translation of the patent applications, the literature associated with each describes the main point being to aim for faster, high-speed autofocus whilst maintaining a relatively small lens body.
There currently exists a Canon RF 50mm f/1.2 USM and the just-released 50mm f/1.8 STM so the likelihood of a 50mm f/1.4 coming any time soon seems unlikely but only time will tell.
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Via Canon Watch and Canon Rumors.