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Apple, Hyundai Could Forge EV Manufacturing Deal By March, Report Claims Benzinga 1/11/2021
Apple Inc (NASDAQ: AAPL) and
Hyundai Motor Company (OTC: HYMTF) could forge a partnership to make electric vehicles in the United States starting around 2024, according to unconfirmed reports.
What Happened: The deal between the two companies could be signed as early as March, Reuters reported Sunday citing South Korea’s IT News.
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The local newspaper updated its original report and removed details related to production location and capacity, as well as the timeline of the signing of the deal and launch of the first vehicles, as per Reuters.
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Apple Inc (NASDAQ: AAPL) and
Hyundai Motor Company (OTC: HYMTF) are conducting early negotiations on the development of self-driving electric vehicles, Bloomberg reported Thursday.
What Happened: The South Korean automaker initially confirmed through a statement that the two companies are holding talks.
“Apple and Hyundai are in discussion, but as it is at early stage, nothing has been decided,” Hyundai said, as per Bloomberg. The automaker later backtracked from the statement, saying it had received interest from a number of automakers.
Apple is not only collaborating with Hyundai to produce EVs but also to develop electric batteries, the Korea Economic Daily reported earlier.