Will Apple and Hyundai skid on self-driving electric cars?
Hyundai could be the automotive partner to support Apple in the design of its high-tech electric car. Facts, numbers, indiscretions and curiosities
The iPhone maker may have already found an automaker as a partner for its electric car .
Hyundai Motor confirmed Friday that it is in talks with Apple after local media reported that the companies were discussing a link between the electric car and the battery.
The news comes weeks after Reuters reported Apple was moving forward with self-driving car technology and aimed to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.
Shortly thereafter, the South Korean auto group downplayed reports that it is in talks with Apple to produce an autonomous electric vehicle. The company said discussions are still in the "early stage" and still undecided.
But news of a potential (albeit tentative) tie with Apple, known for keeping a close eye on the deals before they were announced, was enough to push Hyundai Motor Company's shares to more than 20% on the Korean stock market on Friday. .
All the details.
THE RUMORS ON THE NEGOTIATION
Apple and Hyundai would be in discussions to develop self-driving electric vehicles by 2027 and develop batteries at US factories run by Hyundai or its subsidiary Kia Motors Corp.
The news was initially spread by the South Korean economic newspaper Korea Economic Daily, which had taken up the rumors about a productive collaboration.
THE LEAP IN THE BAG
Shares of the Hyundai group rose on the Seoul Stock Exchange. Hyundai Motor flew 20.63%, Hyundai Wia did + 24.72%, Hyundai Mobis + 22.17% and Hyundai Glovis + 2.76%.
Shares of subsidiary Kia Motors, South Korea's second largest auto maker, jumped 11.90%. Apple stock, which had already benefited weeks ago from Apple Car production rumors , rose 0.58% afterhours after a 3.41% jump in the eve of the session.
THAT HAS PULLED ON HYUNDAI
The surge in the South Korean automaker's share price on Friday added nearly $ 8 billion to Hyundai's market value.
THE HYUNDAI DECLARATION …
The confirmation came after the South Korean economic newspaper Korea Economic Daily reported rumors that Apple suggested the alliance leading Hyundai Motor to consider the terms of a possible agreement.
The novelty in the story is that after the article it was Hyundai itself who gave official confirmation. In the first draft, it read: “We are aware that Apple is in discussion with several global automakers, including Hyundai Motor. Since the negotiation is in the initial phase, nothing has been decided ".
MAGAZINE THEN FROM THE SOUTH KOREAN AUTOMOTIVE COMPANY
This quite surprising statement, however, was in contrast – according to Autoevolution – with Apple's confidentiality code. So Hyundai revised the release it became (making the Apple name disappear). ”We have received requests for potential collaboration from various companies regarding the development of autonomous electric vehicles. No decisions have been made as discussions are in the initial phase ”.
“We know that Apple has entered into discussions with several global auto manufacturers, including Hyundai Motor. Since the negotiations are at an early stage, nothing has been decided yet ”, Chery Kang, Hyundai spokesperson, told CNBC .
THE TITAN PROJECT OF THE COLOSSUS OF CUPERTINO
Last month, Reuters reported that Apple's automotive initiative, called Project Titan, is still ongoing, with plans to develop an autonomous electric passenger vehicle. But the car is not expected to launch until 2024.
According to analyst Ming-chi Kuo, a well-known expert of the Cupertino company, the commercial launch of the Apple electric car could also be postponed to 2028 and beyond.
THE ELECTRIC ACCORDING TO HYUNDAI
As TechCrunch recalls, Hyundai launched its own electric vehicle brand, Ioniq, in August 2020. The goal is to bring three fully electric vehicles to market in the next four years. This fits into the strategy to sell one million battery electric vehicles and take a 10% share of the electric vehicle market by 2025.
SCENARIOS OF THE PARTNERSHIP BETWEEN HYUNDAI AND APPLE ON THE ELECTRIC CAR
Don't forget that Hyundai and Apple are already working together on CarPlay, Apple's software for connecting iPhones to vehicles from a variety of car manufacturers.
The Hyundai Group, also through its Mobis division – specialized in high-tech components – could help Apple in making an electric car, partially or completely autonomous, more easily than other partners.
WHAT ANALYSTS THINK
I'm not sure it's a good strategy for automakers to become like Apple's Foxconn, ”Jeong Yun-woo, former Hyundai designer and professor at UNIST in South Korea, told Reuters . According to the former Hyundai designer. "Car manufacturers run the risk of losing control in favor of technology companies."
According to analysts, Apple may be interested in using Hyundai's electric car platform to cut costs to develop and build vehicles.
THE CHALLENGE TO TESLA
An Apple-branded electric car could pose a big challenge for Tesla. It is not yet clear who would assemble such a car, but analysts are convinced that Apple is relying on a partner, giving up in-house production.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/apple-e-hyundai-sgommeranno-sulle-auto-elettriche-a-guida-autonoma/ on Fri, 08 Jan 2021 14:49:06 +0000.