‘Apple and Hyundai set to agree electric car tie-up’

Apple, Hyundai set to agree electric car tie-up, says Korea IT News
The Apple logo is seen at an Apple Store. Source: Reuters
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Daily US Times: Apple Inc and Hyundai Motor plan to sign a partnership deal on autonomous electric car by March and start production around 2024 in the US, local newspaper Korea IT News reported on Sunday.

The news follows a statement on Friday from Hyundai Motor that it was in early talks with tech giant Apple after another local media outlet said Hyundai and Apple aimed to launch a self-driving electric car in 2027, sending Hyundai shares up nearly 20%.

Hyundai declined to comment on the report on Sunday, and reiterated Friday’s comments that the company has received requests for potential cooperation from various companies on developing autonomous electric vehicles.

Apple had no immediate comment on the matter.

An updated version of the IT news report removed details, including production capacity and location and the launching the pilot vehicles and the timeframe for signing the agreement.

The previous version said Apple Inc and Hyundai Motor planned to build the cars at Kia Motors’ factory in the US state of Georgia, or invest jointly in a new factory in the US to produce 100,000 vehicles around 2024.

The full annual capacity of the proposed plant would be 400,000 electric vehicles.

Kia Motors is an affiliate of Hyundai.

The report also said Apple and Hyundai planned to release a “beta version” of the Apple cars next year.

Last month, Reuters news agency reported that Apple was moving forward with autonomous car technology and aimed to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.

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