Sunday, February 28

Hyundai and Kia say they are no longer in discussions with Apple

The autonomous and electric Apple Car project is still in progress, but will be done in Hyundai and Kia.

But what can be happening with Apple’s electric car projects? In two months, we thought we learned from Reuters new information on the project, then thanks to Korea Economic Daily TV that Apple would seek a partnership with Hyundai and its subsidiary Kia, then with new elements at the beginning of February. thanks to CNBC.

Today, Hyundai and Kia officially indicate that they are not in discussions with Apple to develop an autonomous vehicle. This statement corroborates information from Bloomberg, which indicated according to its sources that Apple had put these discussions on hold several weeks ago. Apple is also said to have had negotiations with other automakers. Still according to Bloomberg, Apple would be angry with Hyundai and Kia, which had earlier confirmed discussions with Apple openly, prompting the two brands to publicly confirm the end of the discussions.

A very long-term project

In its statement, Hyundai says it has been in discussions with several companies to develop self-driving cars, but none of them have been successful. The shares of the two brands, Hyundai and Kia suffered a sharp drop in their prices following these announcements: -8.4% and -15.3% respectively.

Still, this seems to mark a setback for Apple’s vehicle project, the release of which was not expected before 2024. According to the Nikkei, Apple is in talks with no less than 6 car manufacturers. We imagine that the giant should succeed in signing a partnership. If the brand decides to involve other companies in its project, we can estimate that this project is progressing well and that it is less likely that it will disappear completely from the radar. It remains to be seen what a car marketed by Apple will be special.

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