The constant rumours about a potential for Apple to have its own electrical car are still ongoing and refuse to go away. The latest news is that the technology giants are close to an agreement with the car company Hyundai to start production of their very own electric vehicle. There is some talk that the agreement could be made as early as March this year. Neither company is talking about the partnership, however, Hyundai has announced that talks have commenced.
It was initially reported that Hyundai and Apple were going to start the production of cars in the Kia Factory in Georgia, USA or build a new factory elsewhere in the US that will produce up 400,000 cars per year. However, this claim was removed from news and it was suggested that it may be too early to make assumptions at this early stage. There were a few beliefs that it may make a debut this year, although further rumours have suggested that the new Apple Car will go on display in 2022.
There was further gossip that Apple was partnering with ex-Tesla engineers for the Apple Car project. Although, the time frame for this was five to seven years away – a much longer time frame compared to the Hyundai deal. Information about the rumoured Apple Car is very scarce, therefore, it’s very early to comment about the features that the Apple Car may have. We are certain it will include a state of the art technology that the company are famous for. It was reported in December that Apple may be looking at implementing advanced battery technology, which could decrease the price of batteries and enhancing the range of the vehicle.
This latest news that Apple is moving into electrical cars will be seen as a large threat to Tesla who is the largest automaker in the world and it will also have other established carmakers worried such as Ford, Volkswagon & Toyota.
On Monday, stocks in Hyundai Motor rose to 14.5% in the morning, while their partners Hyundai Mobis rose to 12.6% and Kia shares increased to 9% compared to a 2% increase in the wider market.
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