Hyundai Motor along with its affiliate Kia have said they are not in talks with Apple for an electric car manufacturing project but now, a new has claimed that a partnership may still be possible for Kia, claiming that negotiations with Apple are not completely canceled.
According to a new report from South Korean news site Chosun Biz, Apple and Kia signed a memorandum of understanding (MoU) last year, “agreeing to pursue cooperation in eight sectors, including electric vehicles”.
“Even if the negotiations on electric vehicles fail, there are many items that can be negotiated in other fields, so we are still optimistic about the possibility of a partnership between the two sides,” the report said on Thursday, citing sources.
In addition, Kia and Apple are also discussing cooperation in “last mile” mobility, with Kia’s electric scooters, it added.
The first Apple electric car was reported to to be built on Hyundai’s electric vehicle platform and the initial model could lead to new vehicles built in association with General Motors and European manufacturer PSA.
In a note to investors, TF Securities Analyst Ming-Chi Kuo said Apple’s deep collaboration with current automakers (Hyundai Group, General Motors and PSA) who have extensive development, production and qualification experience “will significantly shorten the Apple Car development time and create a time-to-market advantage”.
Kuo believes that the earliest possible date for an Apple car to hit the market is 2025.
The Apple car is rumoured to feature LiDAR technology which could add a lot of depth to onboard Artificial Intelligence (AI) functions. The vehicle is expected to use a “C1” chip based on the A12 Bionic processor with in-cabin AI capabilities such as eye-tracking.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.