Apple, Hyundai ready to partner in electric vehicle development

Apple, Hyundai ready to partner in electric vehicle development

However, the production will begin in 2024, at first Apple may introduce a beta version of the vehicle. In its confirmation, Hyundai said it was in early talks with Apple but didn't disclose the subject matter of the discussions.

Reports last week indicated Apple is in negotiations with Hyundai to not only manufacture an electric vehicle but to also develop batteries, due to the "enormous costs" of the technology and the production facilities required.

Hyundai Motor and Apple Inc plan to sign a partnership deal on autonomous electric cars by March and start production around 2024 in the United States, local newspaper Korea IT News reported on Sunday. Previous reports have suggested that Apple is secretly developing a lithium iron phosphate battery, a new battery technology said to be cheaper and more efficient than traditional battery cells that use nickel manganese cobalt.

The latter will come based on the Hyundai 45 Concept.

Start of Formula 1 season in Bahrain, return of Imola!
An F1 statement said the Shanghai race would be held "later in the season if possible", citing travel restrictions. There is the return of Imola after the circuit was also on the calendar in 2020.

Should the timeline be met, Apple could have an Apple Car beta version first in 2022.

But their confirmation in itself led Hyundai's shares to shoot up nearly 20%.

Apple explored entry into the electric vehicle market through its secret Project Titan, which launched in 2014 but was eventually scaled back in 2019. It is believed that plans will involve the production of around 100,000 vehicles in 2024, with an annual capacity of the plant being higher at 400,000 vehicles.

It is also believed that Apple has the potential to pose a threat to Tesla.

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