Apple, Hyundai To Agree On Electric Car Tie-up Early This Year

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.

The report follows a statement on Friday from Hyundai Motor that it was in early talks with Apple after another local media outlet said the companies aimed to launch a self-driving electric vehicle in 2027, sending Hyundai shares up almost 20%.

After dropping a hint about being in conversation with Apple, Hyundai later tried to rectify its comments stating that they are getting requests for potential co-operation from various companies about autonomous electric vehicles.

Hyundai could manufacture the new Apple auto on behalf of the tech giant, according to reports out of South Korea.

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.

The proposals would involve either the assembly of cars at a factory in Georgia owned by Hyundai affiliate Kia Motors, or the construction of a new factory in the country.

Initial production output was indicated to be 100,000 vehicles in 2024, eventually reaching 400,000 per year.

The report also mentioned that a "beta version" of the ‌Apple Car‌ could be released in 2022.

This story has been published from a wire agency feed without modifications to the text.