Ali Hasan
Apple and Hyundai to Team Up
Just when we were expecting Apple to release an Electric Car by 2024, they are reports that they are planning to do it by teaming up with another car manufacturer. They might be teaming up with Korean car manufacturer Hyundai to develop, manufacture, and deliver an EV.
According to the original report by Korea Economic Daily TV, a prototype of the Apple Car may be ready in 2022 before production kicks off in 2024. Another report says that Hyundai Motor was in early talks with Apple after another local media outlet said the companies were aiming to launch a self-driving electric car in 2027, sending Hyundai shares up nearly 20%.
Citing industry sources, the latest report said the pair could plan to build the cars at Kia Motors’ factory in Georgia, or jointly invest in a new factory in the United States, with a plan to produce 100,000 vehicles in 2024 at the proposed plant with an annual capacity of 400,000 vehicles. Kia Motors will be used as it’s an affiliate of Hyundai Motors.
The report also said Hyundai and Apple planned to release a “beta version” of the Apple cars next year. Both the companies are set to sign a partnership deal on autonomous electric cars by March 2021 and are set to start production by 2024 in the US.
A report by CNN indicated that a partnership with Hyundai makes sense because the company is an experienced player in Asia, a region expected to be the center of global economic growth over the next few decades. It also has a manufacturing base near China, which is the world’s largest car market and the biggest driver of demand for EVs.
Only time will tell about who will be the perfect winner in the race to manufacture the most sophisticated EV capable of the most range with autonomous capabilities. All we need to do is wait and watch.
