Hyundai, Apple in talks to co-develop electric car

While more details are not yet known, it is speculated that the electric car could be released by 2027.

A Hyundai Motor representative has told the media that the South Korean carmaker is in early stages of discussion with Apple to co-develop an electric car.

While more details are not yet known, it is speculated that the electric car could be released by 2027. A media report suggests that the two companies could also collaborate on battery development.

This news has resulted in Hyundai shares gaining 19.42% at the South Korean stock exchange. Shares of sister concerns like Hyundai Wia, Hyundai Mobis and Hyundai Glovis surged by 21.33%, 18.06% and 0.75% respectively. Shares of Kia Motors too gained 8.41%.

This is not the first time news about an Apple car has come out. Late last year, we had reported that Apple could launch a car in 2024. Known as Project Titan, the division is headed by John Giannadrea, Senior Vice President for Machine Learning and AI strategy.

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