Cupertino’s Apple, Hyundai to partner up on e-vehicle, may begin US production by '24

by   |  VIEW 866

Cupertino’s Apple, Hyundai to partner up on e-vehicle, may begin US production by '24

Hyundai Motor Co., the Seoul-based 53-year-old S. Korean multinational automotive manufacturer alongside the Cupertino, California-headquartered iPhone maker Apple Inc. had been in an advanced stage talk to sign off a partnership deal on autonomous e-vehicle development as early as by March this year, while the merged entity was expected to kickstart a US production line by 2024, a S.

Korean local newspaper Korea IT had reported earlier on Sunday citing unnamed sources. On top of that, latest news report from Korea IT published earlier on Sunday comes over the heels of another report from a local newspaper that said later last week that Hyundai Motor Co., which owns the world’s largest automotive manufacturing facility in Ulsan, S.

Korea with an annual output capacity of 1.6 million unit, alongside the world’s largest corporate taxpayer, Apple Inc., had been working out a tie-up to roll out a self-driving e-vehicle by 2027, sending Hyundai Motor Co.’s shares’ prices nearly 20 per cent higher.

Aside from that, late on Friday, Hyundai Motor Co. had also acknowledged that the global automotive industry giant with subsidiaries likes of Kia Motors in which Hyundai holds a 32.8 per cent stake alongside Genesis, had been brewing off an option to rubber stamp a partnership deal with Apple Inc.

to launch a self-driving e-vehicle.

Hyundai, Apple set to team up on self-driving e-vehicle development

Nonetheless, while being asked over the Korea IT newspaper report, a spokesperson for Hyundai had declined to comment while reiterating Friday’s comments that said the carmaker had received requests for a potential tie-up on automotive e-vehicle development, but Apple Inc.

made no comments. However, the Korea IT newspaper report published earlier in the day had added that the companies were planning to set out a production line at Kia Motors’ manufacturing hub in Georgia, while Apple Inc.

and Hyundai were also mulling an option to construct a new factory in the United States with an output capacity of as many as 100,000 units by 2024.