Apple in talks with Hyundai over self-driving car

Rumours that Apple is working on a self-driving car have been making the rounds for quite some time now. Now, it looks as though there might be some weight behind those rumours, as Apple is reportedly in talks with South Korean car manufacturer Hyundai over the possibility of a joint venture.

Following the announcement that Apple was in talks with the manufacturer, Hyundai’s shares surged by 19%.

“We understand that Apple is in discussion with a variety of global automakers, including Hyundai Motor. As the discussion is at its early stage, nothing has been decided,” a representative from Hyundai Motor told CNBC.

Hyundai’s stock recorded its best day in at least two decades after the South Korean automaker was reported to be in early talks with Apple to develop self-driving electric cars. https://t.co/mUOcKBV65I

— CNN (@CNN) January 8, 2021

To be clear, Apple won’t be building the vehicle itself. Instead, the company could potentially build the new vehicle on top of Hyundai’s existing models. This means Apple could be in talks with a number of automakers to see which existing models fit its plans going forward. In a sense, automobile manufacturers are essentially battling to see who will have the honour of being Apple’s chosen partner for this endeavour.

The fact that there is limited information regarding Apple’s venture into the automotive world has caused prominent Apple analyst Ming-Chi Kuo to issue a warning about the hype surrounding these rumours. Kuo told CNBC that the automotive market is “too bullish” on the Apple car, before going on to say, “We also think that because EV/self-driving car technical specs are still evolving, it is too early to talk about the final specs of the Apple car.”

Kuo believes the earliest we’ll see the Apple car, if it is indeed ever released, will be in 2025 or even 2028.

Picture: Twitter/@MacMike1000