According to information for Apple, talks with Hyundai about manufacturing an electric car, with the forecast of a finished vehicle in 2027. The news caused the car manufacturer’s share to soar.
Apple’s now six-year ambitions in the automotive industry have varied in form. From the plans to develop its very own “Apple Car”, the company instead seemed to focus on developing software for self-driving cars. But just before Christmas announced the news agency Reuters that, according to their sources, it will be a physical vehicle that will see the light of day in 2024. This is information that Apple does not want to comment on.
Source: Apple discusses with several manufacturers
According to CNBC Hyundai now says that they are in early talks with Apple about possibly developing an electric car together. In a report, the Korea Economic Daily claims that it was Apple who courted the car manufacturer, and that Hyundai is now reviewing their offer.
For CNBC, at the same time, the Hyundai source states that Apple is in discussions with a number of global car manufacturers – however, this has not prevented Hyundai Motor’s share price from sticking out more than 19 percent after the information came out.
According to the Korea Economic Daily, the proposed collaboration will not only apply to the manufacture of an electric car but also include battery development. However, the newspaper’s information on a time forecast says that a car could be released in 2027 rather than Reuters’ information on 2024
However, the journey there is long, and according to CNBC, not all Wall Street analysts give Apple’s project a positive forecast, as car construction requires heavy investments while margins are small. For example, Daniel Ives and Strecker Backe see that Apple has a 35-40 percent chance of succeeding in marketing its own car.