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Apple, Hyundai To Agree On Electric Car Tie-Up Early This Year: Report

The report follows a statement on Friday from Hyundai Motor that it was in early talks with Apple after another local media outlet said the companies were aiming to launch a self-driving electric car in 2027.

The report said Hyundai and Apple plan to release a beta version of Apple cars next year expand View Photos
The report said Hyundai and Apple plan to release a beta version of Apple cars next year

Hyundai Motor and Apple Inc plan to sign a partnership deal on autonomous electric cars by March and start production as early as 2024 in the United States, local newspaper Korea IT News reported on Sunday. The report follows a statement on Friday from Hyundai Motor that it was in early talks with Apple after another local media outlet said the companies were aiming to launch a self-driving electric car in 2027, sending Hyundai shares up nearly 20%.

Citing industry sources, the latest report said the pair plan to build the cars at Kia Motors' factory in Georgia, or jointly invest in a new factory in the United States, with a plan to produce 100,000 vehicles in 2024 at the proposed plant with an annual capacity of 400,000 vehicles. Kia Motors is an affiliate of Hyundai Motors.

Also Read: Apple's Self Driving Car Could Be Manufactured By Hyundai In 5 Years

The report said Hyundai and Apple plan to release a "beta version" of Apple cars next year. Both Hyundai Motor and Apple did not have any immediate comment.

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Reuters reported last month that Apple was moving forward with autonomous car technology and was aiming to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.

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