Tuesday, June 25, 2024

With Apple, we’re not building an electric car: Hyundai

Once again, the Korean carmaker Hyundai Motor Co. has retracted its announcement that it is in talks with Apple to build an electric car that is self-driving.

In the first correction, the Korean automaker had claimed that it’s only one of the various carmakers that Apple has contacted, and within the second correction, it completely avoided any regard to Apple.

When the Korean media had initially reported that Hyundai is in talks with the tech firm to develop a replacement smart car, the automaker’s shares surged by 19 percent.

However, Apple will take a minimum of half a decade to launch a self-driving electric because it lacks both the experience and manufacturing capacity to try to to so, which is why it’s looking to collaborate with an existing automaker.

Since Hyundai has also backed faraway from its original statement, there has been no word about whom Apple will select as its partner.

In other reports, Hyundai Motor had a $4 billion contract with a spin-off from General Motors called ‘Aptiv’ to build self-driving cars. There are proposals for the company to sell 1 million electric cars by 2025.

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