Hyundai is in preliminary talks with Apple to develop a car

By: Miguel A. Rodriguez

18:22, 27 January 2021

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The end of the week comes with news from the tech and automotive industry

According to a statement given to Financial Times by Hyundai, the South Korean carmaker is in early talks with Apple about building an electric vehicle. This could potentially be the latter’s long-awaited move in this industry. But while Hyundai tried to play it down, a Korean-language report said that Apple plans to go public with its electric vehicle in 2027, and it is discussing with Hyundai to develop its own EV batteries.

From the experts’ point of view, the two of them working together will be the natural thing to do. They are already collaborating on CarPlay – Apple’s software for connecting iPhones to vehicles. Moreover, if Apple comes out with electric cars could be a potential threat to industry leader Tesla.  

Following the news, Hyundai stock price went up more than 20%, trading at a six-year high. Apple stocks closed 3.41% higher.

 Sources: ft.com, reuters.com

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