While more details are not yet known, it is speculated that the electric car could be released by 2027.
A Hyundai Motor representative has told the media that the South Korean carmaker is in early stages of discussion with Apple to co-develop an electric car.
While more details are not yet known, it is speculated that the electric car could be released by 2027. A media report suggests that the two companies could also collaborate on battery development.
This news has resulted in Hyundai shares gaining 19.42% at the South Korean stock exchange. Shares of sister concerns like Hyundai Wia, Hyundai Mobis and Hyundai Glovis surged by 21.33%, 18.06% and 0.75% respectively. Shares of Kia Motors too gained 8.41%.
This is not the first time news about an Apple car has come out. Late last year, we had reported that Apple could launch a car in 2024. Known as Project Titan, the division is headed by John Giannadrea, Senior Vice President for Machine Learning and AI strategy.
Source: Read Full Article