Hyundai first issued a statement that it is in discussion with tech giant Apple over a possible collaboration to build an autonomous electric car, but later back tracked on its claims
Apple Inc. recently revealed its plans of entering the automotive world in the future with a fully-electric car. Now, Hyundai Motor Group has revealed that it is in talks with the Cupertino based multinational technology company about building a car, which could actually be Apple’s first EV. While the Korean automaker later backtracked on the claim, the news caused Hyundai’s shares to soar by 20 per cent overnight.
In a statement sent to the Financial Times, Hyundai said that, “Apple and Hyundai are in discussions, but as it is at an early stage, nothing has been decided.” The company’s valuation rose by around $9 billion following the announcement. However, Hyundai backed away from the statement of being in talks with Apple on developing self-driving car, saying instead that it received requests for potential cooperation from a host of companies.
Altering its original statement in a matter of hours, Hyundai said it had been contacted by potential partners for the development of autonomous electric vehicles, removing any reference to Apple whatsoever. On the other hand, the tech giant is yet to comment on the speculation.
With development work still in its early stages, launching an autonomous electric vehicle could take Apple almost four to five years, and the company is in no hurry to decide on potential auto-industry partners. Last month it was reported that Apple was hoping to introduce its first self-driving personal vehicle by 2024.
We recently also reported about Hyundai Motor Group’s aim to lead the EV movement, and soon introduce a an all-new dedicated EV platform that will underpin a range of upcoming Hyundai, Kia as well as Genesis EVs. In December last year, the Korean company had unveiled its new Electric-Global Modular Platform (E-GMP) dedicated EV architecture.
The collaboration between Apple and Hyundai could see Apple’s upcoming EV make use of Hyundai’s new E-GMP platform, which brings 800V charging capacity, and can offer more than 500 km of range on a single full charge. Hyundai had also revealed that the carmaker aims to take its technological leadership into segments where buyers demand excellent driving dynamics and outstanding efficiency.
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