Apple, Hyundai to tie up for electric car early this year: Report
New Delhi : Hyundai Motor and Apple Inc may go into an official agreement to make autonomous electric cars by March and start production as early as 2024 in the United States, said a media report.
A report by Korea IT News mentioned that Hyundai Motor is in early talks with Apple; another local media outlet claimed that the companies are aiming to launch a self-driving electric car in 2027.
Soon after the reports of tie-ups came to light, the shares of Hyundai motors have increased by 20%.
As per industry sources, it has been learned that the two companies will be making their cars in the Kia Motor's facility in Georgia. They have plans to produce around 100,000 cars by the end of 2024.
Reuters reported last month that Apple was moving forward with autonomous car technology and was aiming to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.