Tech giants Apple and South Korea automaker Hyundai are in early talks to bring an electric car to the market, according to a new report. However, no concrete plans have been made as yet.
Partnership Is Imminent
Perhaps buoyed by the recent success of Tesla, another electric car company, Apple have moved to launch their own electric car. According to reports, they are looking to form a partnership with Hyundai. Both companies are to begin producing the autonomous electric vehicle by 2024, initially in the United States.
Meanwhile, this is not the first time that reports about a supposed “Apple Car” have surfaced and done the rounds, there have been whispering to this effect for years now. This report, however, was confirmed by Hyundai Motors. The company’s shares increased exponentially after the release of the news, although Hyundai later stressed that no deals have been struck as yet.
Plans Are Underway
The initial report which was carried by local newspaper Korea IT news claimed that a partnership between Apple and Hyundai could be signed by March 2021 and production would begin in the US around 2024.
Further details were already provided by the report, including that the cars are to be built either at Kia Motors’s facility in Georgia a new facility jointly funded and built by both companies. The report further outlined both companies’ aim of producing an initial 100,000 units by 2024. The complete annual capacity is to be pegged at 400,000 vehicles. Further, a beta version of the car may be expected as early as the following year. These details have, however, been removed.
These new reports seem to indicate that a much anticipated autonomous electric car from Apple is in the pipeline. Nevertheless, it remains to be seen which partner Apple would prefer to work with or how soon this can be made a reality.