Apple, Hyundai Set to Sign Autonomous Electric Car Partnership Deal

Cornelia Mascio
Gennaio 11, 2021

Following the revelation, Hyundai Motor Group reportedly disclosed that it is in talks with the Cupertino giant to produce its first EV.

A few days ago, it was confirmed that Hyundai Motor is in talks with Apple for the production of the tech giant's ambitious project of making its own autonomous driving vehicle, which is now being referred to as Apple Car.

According to news outlet Reuters, local newspaper Korean IT News reported on Sunday plans to sign an agreement by March 2021 between the two corporations. Furthermore, the factory itself would most likely be based in the United States.

Friday's report followed after Hyundai issued a statement confirming it was in early-stage talks with Apple, but that "nothing has been decided" at that stage.

Previously, they reported that the cars would either be manufactured at Kia Motors' facility in Georgia, or at a new location (also in the States) - the aim would have been to produce 100,000 electric vehicles around 2024.

Total production capacity of the new plant (if it is set up) will be around 4 lakh units, while the firms plan to manufacture 1 lakh units per annum when operations commence in 2024.

Hyundai also said in a regulatory filing last week that it was "getting requests for cooperation on joint development of autonomous electric vehicles from various companies", but didn't mention any names. This resulted in Hyundai shares shooting up by almost 20%, as per Reuters.

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