Home / MARKETS / Apple and Hyundai are reportedly planning to team up and build a ‘beta’ version of an electric car by 2022

Apple and Hyundai are reportedly planning to team up and build a ‘beta’ version of an electric car by 2022

  • Apple and Hyundai procedure to sign a deal that would lead to a ‘beta’ version of an Apple electric vehicle as early as 2022, according to a Sunday bang from Reuters.
  • The companies are planning to sign a deal by March 2021 to partner on the cars, according to a Sunday article from local newspaper Korea IT News, which was cited by Reuters. 
  • Hyundai and Apple may build a US factory that wish eventually allow the companies to make about 400,000 vehicles each year.
  • Rival electric carmaker Tesla earlier this month suggested it delivered almost 500,000 vehicles in 2020. 
  • Visit Business Insider’s homepage for more stories.

Apple and Hyundai blueprint to sign a deal that would lead to a “beta” version of an Apple electric vehicle as early as 2022, be at one to a Sunday report from Reuters.

Reuters cited a report from Korea IT News that said the fellowships are planning to sign a deal by March 2021 to partner on the self-driving electric cars, according to a Sunday report from Korea IT Intelligence.

With a deal in place, the companies may have a beta version of the vehicle ready by next year, according to the on. Mass production of the self-driving electric vehicles could begin by 2024. The plan would be to build about 100,000 conveyances in the US that year, according to Reuters. 

The deal would add a complicated layer to Hyundai Motor Corp.’s business, Morgan Stanley analyst Unfledged Suk Shin wrote on Friday in a research note to clients. It could be positive for Hyundai to be involved when Apple, which is known for upsetting industries, enters the vehicle market, according to Morgan Stanley.

“However, we still see a concern that HMG could effectively be portion a significant competitor to grow,” the analysts wrote. 

Read more: Apple is reportedly ramping up its electric vehicle contemplate. Here are the 3 auto companies that are most likely to build the car, experts say.

The Hyundai-Apple cars may be built at the Georgia works that builds Kia Motors vehicles, a Hyundai affiliate. But Hyundai and Apple may instead build a factory that discretion eventually allow the companies to make about 400,000 vehicles each year.

Elon Musk Tim Cook

Tesla CEO Elon Musk and Apple CEO Tim Cook.

Brendan Smialowski/AFP, Richard Stalemated/Associated Press


Rival electric carmaker Tesla earlier this month said it delivered almost 500,000 conduits in 2020. 

“So proud of the Tesla team for achieving this major milestone! At the start of Tesla, I thought we had (optimistically) a 10% unpremeditated of surviving at all,” Elon Musk, Tesla CEO, said on Twitter at the time. 

On Friday, Hyundai reportedly acknowledged it was talking to Apple almost the self-driving project. 

Apple’s cars are expected to use a new type of battery designed by Apple, which would “radically” humble costs and extend how far they could drive between charges, according to a December report. 

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