Apple and Hyundai collection to agree deal to make autonomous cars

11 Jan 2021 11:28 AM
Image: Collected
Hyundai Engine and Apple intend to indication a partnership deal on autonomous electric automobiles by March and begin production by around 2024 in the United States, local newspaper Korea It again Information reported on Sunday.

The report follows a statement on Friday from Hyundai Motor that it had been in early talks with Apple after another local media outlet said the firms aimed to start a self-traveling electric car in 2027, sending Hyundai shares up almost 20 per cent.

Hyundai Motor declined to touch upon the article on Sunday, and reiterated Friday's comments that it has received requests for potential cooperation from several companies on developing autonomous EVs.

Apple had zero immediate comment.

An updated version of the IT news report removed specifics, including production location and capability and the timeframe for signing the agreement and launching the pilot vehicles.

The previous version said the companies planned to build the cars at Kia Motors' factory in Georgia, or invest jointly in a fresh factory in the United States to produce 100,000 vehicles around 2024. The entire annual capacity of the proposed plant will be 400,000 vehicles.

Kia Motors can be an affiliate of Hyundai Electric motor.

The report also said Hyundai and Apple planned to release a "beta version" of the Apple cars subsequent year.

Reuters reported last month that Apple was continue with autonomous car technology and aimed to make a passenger vehicle that could include its own breakthrough electric battery technology as early as 2024.

Shares in Hyundai Motor rose 14.6 % in morning trade on Monday, while affiliate marketer car parts maker Hyundai Mobis shares rose 12.7 % and Kia shares rose 9.1 per cent versus a 2 % gain in the wider industry.