Hyundai Motor says it is in early stages of discussions with Apple over potential partnership in development of an electric car.
After this report, shares of the Korean company surged 19.42 percent.
The proposal includes production of both EV and battery. The car could be launched in 2027.
Apple has not commented on. We’ve heard about Apple’s car over the last six years, but the project isn’t still materialized.
In December, Reuters reported that iPhone-maker was moving forward with its self-driving car technology to utilize it in a passenger vehicle by 2024.
Meantime, Apple analyst Ming-Chi Kuo expresses doubts that the car can appear before 2028. He says the hype around Apple was purely on speculation that some producers of parts for autonomous vehicles may supply them for the Apple car.
Some analysts believe that building of the Apple-branded vehicle could potentially mean heavy investments for low margins. Others say the automotive sector in a new market for Apple to grow into.