Apple In Talks With Hyundai for iCar

Issue 53

01.11.21 - Apple is reportedly in talks with Hyundai about partnering on an electric iCar. A partnership with the South Korean company makes a lot of sense for Apple, and the two companies could be agreeing on a deal as early as March, according to some reports.

The COVID-19 pandemic has triggered a sales slump while carmakers simultaneously begin seriously to confront the huge challenge of ditching the internal combustion engine in favor of electric. The investment required to develop electric cars has helped spark a wave of partnerships across the industry, with companies teaming up to spread the costs.

In this environment, auto manufacturers that have shied away from making it easier for upstarts to gain a foothold in their industry are suddenly more open to collaboration. Hyundai has been among the most open to joining forces with other companies — and even tech firms, according to analysts.

This is not the first time Apple has been looking for an auto-manufacturing partner. In 2014, Senior Apple executives toured a BMW factory to get a gauge on the company's electric car manufacturing, but nothing ever transpired. Since then, there's been plenty of speculation about Apple's secretive efforts to break into the auto business.

Source: Reuters