Hyundai & Apple to Partner on Autonomous Electric Car Production

11 January 2021

    Hyundai and Apple plan to sign a partnership deal on autonomous electric cars by March and start production around 2024, Korea IT News reported.

     

    Hyundai Motor prior mention that it was in talks with Apple after another local media outlet said the companies aimed to launch a self-driving electric car in 2027, sending Hyundai shares up nearly 20%.

     

    An updated version of the IT news report removed details, including production location and capacity, as well as timeframe for signing the agreement and launching the pilot vehicles at this point, but the previous version said the companies planned to build the cars at Kia Motors' factory in Georgia, or in a new factory in the US to produce 100,000 vehicles around 2024. The full annual capacity of the proposed plant would be 400,000 vehicles.

     

    The report additionally mentioned that Hyundai and Apple planned to release a "beta version" of the Apple cars next year.

     

    Shares in Hyundai Motor rose 14.6% as a response, while affiliate auto parts maker Hyundai Mobis shares rose 12.7% and Kia shares rose 9.1%.


    *The products advertised are only available to clients under Fondex Limited Seychelles (SDL No: SD037).

Cookies on Fondex

The Fondex website uses cookies to optimise user experience.

These cookies fall under the following categories: essential, functional and marketing cookies. Marketing cookies may also include third-party cookies.

Manage Preferences

You can customize your selection of which cookies you want to accept.

  • Essential

    These cookies are necessary for the website to function correctly and cannot be switched off.

  • Functional

    Functional cookies allow the website to remember users' preferences and the choices you make on the website such as username, region, and language.

  • Marketing

    These cookies are used to track visitors across our websites and show you more relevant ads. Marketing cookies also include third-party cookies from partners. For more information relating to data protection & collection please view our Privacy Policy and Cookie Disclosure.

Notice

The Company would like to inform you that it will terminate its operations under the "Fondex" brand by 30th of December 2022. If you wish to open a trading account, kindly visit topfx.com.sc