The Hyundai Motor Company is the South Korean monster of the Car Industry worldwide.
Hyundai operates the world’s largest integrated automobile manufacturing facility in Ulsan, South Korea which has an annual production capacity of 1.6 million units.
Apple and Hyundai
Recently, Hyundai has been in talks with Apple for the Apple Car, which is to launch around 2024. Reportedly, Hyundai’s stock value has increased substantially for the best in 20 years.
Many sources say that Hyundai has confirmed that it is talking to Apple. The news was initially reported by Korea Economic Daily TV, though Reuters, Bloomberg, and others have since reported that Hyundai says it is in some kind of discussion with Apple (AAPL) about a car tie-up.
The Carmakers said in a statement only that “we are receiving proposals for cooperation from various companies and no decision has been made yet.”
Apple declined to comment.
In December, the South Korean Company unveiled engineering for a series of new electric cars.
This new series is called E-GMP. The basic vehicle structure will provide for over 300 miles of driving range, according to them. It can be charged to 80% of its full power in 18 minutes. The structure can be used as the basis of sedans and SUVs, the company has said.
“We believe Apple is in the early stages of talks and looking at a handful of strategic partnerships and collaborations globally with existing automakers on the [electric vehicle] front, with Hyundai on the radar,” Wedbush analyst Dan Ives wrote in a research note published shortly after reports about the Hyundai discussions first broke.
He added that self-driving cars are probably fairly far off for Apple given safety and regulatory issues.