Apple Hyundai Deal To Make Autonomous EV To Be Inked By March

Hyundai E-GMP Structure — The Korean firm recently released it very own new EV architecture

Apple Inc and Hyundai Motor look set to ink a partnership deal to produce autonomous electric vehicles that are seen as the future of motoring.

Likely to be signed by March, the agreement would lead to the commencement of production of the self-driving EV by around 2024 in the USA.

This development comes after, last week, a report claimed Apple and Hyundai aim to launch an autonomous EV in 2027. Hyundai too released a statement that it was in early talks with the smartphone giant.

Further, Hyundai also went on to say that it has received requests for potential cooperation from several firms on making self-driving EVs.

After the Apple-Hyundai deal is set in stone, the companies plan to either build their autonomous EV at Kia Motors’ factory in Georgia, USA or jointly invest in a new facility.

Total production capacity of the new plant (if it is set up) will be around 4 lakh units, while the firms plan to manufacture 1 lakh units per annum when operations commence in 2024.

The report also said under the Apple-Hyundai deal, the firms have planned to release a “beta version” of the upcoming Apple car by as early as next year. The news sent the shares of Hyundai, Hyundai Mobis and Kia up.

It was only recently that Apple revealed it has targeted 2024 to commence production of its EV (click here to read article).

Named Project Titan, the car will be built by a manufacturing partner (now revealed to be Hyundai), while featuring a “breakthrough” battery technology that would reduce cost and provide increased range.

In the ever-changing world of EVs, taking Hyundai’s expertise would help Apple to not hit major hurdles that new car manufacturers often experience and put its dream car on sale as planned.