Foreign automaker says it is in talks with Apple to develop self-driving car
Late last month we discussed speculation that the self-driving Apple Car would undergo production as soon as 2024. There were thoughts about whether Apple would be able to handle the onerous task of manufacturing a vehicle. Many pointed out that it is not the same thing as producing a phone. As a result, some theorized that instead of making an automobile from scratch, Apple would provide its self-driving technology to a mainstream car developer for a price, perhaps via a royalty deal.
On Thursday, CNBC reported that South Korea's Hyundai Motors said that it is in talks with Apple about working together to develop a self-driving car. News of the talks electrified investors who sent Hyunda's shares up over 20%. CNBC's Chery Kang was told by Hyundai earlier today, "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 report from the Korea Economic Daily said that it was Apple that suggested working with Hyundai and that the latter firm was in the process of reviewing the proposed terms of a collaboration between the two companies.
Development of the vehicle and the battery were reportedly included in the proposal. The car could be released in 2027 said CNBC's report. Speaking of the battery, last month we pointed out that the cell rumored to be used on the vehicle is considered to be "next level" and would feature a "monocell" design. More room would be made available inside the battery for the placement of additional active materials. This would allow a car to travel longer distances between charges.
TF Securities analyst Ming-Chi Kuo, the man who knows more about what Apple will do in the future than anyone outside of CEO Tim Cook, says that everyone is getting too bullish about the Apple Car. Part of the reason why Kuo made this comment is that by his reckoning, the vehicle might not be released until 2028. The project, known as Project Titan inside Apple, has supposedly passed a review inside Hyundai. An approval is still required from Hyundia chairman Chung Eui-son.
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