Key Points:
- It is uncertain if negotiations between Apple and Hyundai will restart – or when.
- Apple has also been consulting with other car manufacturers about similar plans.
- Hyundai, which holds a Kia controlling interest, backed away from a statement that claimed it was in discussion with Apple.
Apple Inc. has conducted talks on developing an electric vehicle with Hyundai Motor Co. and Kia Motors Corp… Still, the discussions have recently paused, as per individuals familiar with the scenario.
Apple in discussion with other Companies as per sources:
Apple has also been consulting with other car manufacturers about similar plans, the individuals said. They called for the discussion of private issues not to be revealed.
Throughout recent months, the hidden project has ramped up In a similar manner to Apple’s reinvention of the mobile device market; it can upgrade the automobile industry and its supply chain.
Apple refuses to comment on this:
Apple has refused to comment. Hyundai, which holds a majority stake in Kia, backed away from a report in January that claimed it was in negotiations with Apple.
Apple, which has kept construction projects secret for years and controls ties with suppliers with ruthless precision, has been disturbed by the announcement and other news of talks.
Its unclear talks between Apple and Hyundai might resume:
It is uncertain if negotiations between Apple and Hyundai will resume — or when. There are just a handful of international companies with the resources and ability to mass-produce cars, but how many of them will be interested in partnering with Apple is unknown.
The people familiar with the situation stated:
Often, there are other snags. One is a disagreement within the Hyundai group about which of its two brands, Hyundai or Kia, one of the individuals familiar with the situation says, should produce a car for Apple. Kia is considered as more likely if talks probably wind up resuming and are trying to develop an Apple car at its Georgia factory, the individual said.
How serious Apple is towards taking on Tesla Inc., General Motors Co, and other electric vehicle manufacturers is a crucial question for the sector. It needs an existing manufacturer to have been able to carry out its model.
Any rollout probably won’t happen for another five years:
The Cupertino, California-based organization has a small squad of engineers and designers creating drive systems. Still, with project development at an early stage, likely, any rollout will not take place for the next five years. This indicates that Apple seems to have more time for potential auto-industry partners to consider.
