Are Apple and Hyundai teaming up to build cars?
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While Apple has been at the forefront of tech for the last few decades, the American brand is still yet to make a successful foray into the vehicle segment, and take on Tesla at its own game.
Without the backing of an existing manufacturer, this would be quite a difficult task, but by the sounds of a report out of Korea, it seems that Apple has jumped into bed with Hyundai to start making cars.
Just yesterday, Korea IT News reported that the partnership was a done deal, after Hyundai's shares soared 23% on Friday, turning the Korea Stock Exchange into a Wolf of Wall Street-styled frenzy.
When appearing on Bloomberg TV last Tuesday, Hyundai Motor North America President and CEO José Muñoz was all too happy to talk about the brand's plan to go all-electric.
But when asked about the partnership to start producing fully-autonomous electric cars in the United States, Muñoz declined to comment.
If the rumours of this partnership were true, it would make a lot of sense for both parties involved. Apple needs an established manufacturer to back its vehicle plans, and Hyundai is moving towards the tech-heavy side of passenger vehicles anyway.
Despite this, the Korea brand doesn't seem set on Apple just yet, telling CNBC: “We’ve been receiving requests of potential cooperation from diverse companies regarding development of autonomous driving EVs, but no decisions have been made as discussions are in [the] early stage.”
It's hard to say whether the two brands would actually be open about the signing or not though, as Apple is famous for keeping deals like this quiet, and Hyundai isn't about to step on toes.