A possible landmark tie-up between Apple and Hyundai Motor Group (HMG) seems to be off the desk after the producer clarified it isn’t in talks with the tech big over constructing its self-driving automobile.
- Hyundai won’t be creating self-driving vehicles for Apple
- The announcement noticed Hyundai’s shares drop by 6.2 %
- Apple doubtless to make use of of its personal monocell battery tech in its autos
Hyundai and Apple self-driving automobile: updates
In an replace to buyers, HMG clarified: “We’re receiving requests for co-operation in joint growth of autonomous electrical autos from numerous firms, however they’re at early stage and nothing has been determined. We aren’t having talks with Apple on creating autonomous autos.”
The Korean firm had beforehand confirmed experiences that it was in talks with Apple to co-develop a self-driving electrical automobile by 2027. Shortly after, Apple publicly renewed its intention to launch its personal bespoke automobile.
Hyundai and Apple self-driving automobile: what beforehand transpired
Shares in HMG rocketed 20 % in early January because it emerged that the 2 corporations had been contemplating joint growth of autonomous electrical autos, with Kia mooted as a possible manufacturing accomplice for the long-awaited Apple automobile. Hyundai was, nonetheless, fast to make clear that it was in talks with “numerous firms” for autonomous EV growth.
Shares in Hyundai dropped 6.2 % within the wake of the announcement, amounting to a lack of round £2.18bn (round Rs 2,18,664 crore) in worth, whereas Kia – which had been named particularly within the experiences – was extra dramatically impacted, dropping 15 %, or £3.99bn (round Rs 4,00,864 crore).
Hyundai and Apple self-driving automobile: future
With HMG now out of the image, it stays unclear the place Apple will flip for help with the venture. The Apple automobile will doubtless make use of the corporate’s personal ‘monocell’ battery expertise, which is claimed to supply better capability than standard models, however the firm is not believed to have developed a platform for the automobile.
Apple beforehand focused a launch in 2024, however a Korean publication – reportedly part-owned by Hyundai – cited by the Monetary instances beforehand acknowledged Apple plans to launch its EV in 2027.