A partnership between Apple and Hyundai over the production of the rumored “Apple Car” could produce its first self-driving vehicle in the US by 2024, according to the latest updates.
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New Apple Car
On Sunday, a new report claimed that Apple is in talks with Hyundai about its automotive efforts.
According to this, a deal being worked on that could allow the South Korean car manufacturer to produce the so-called “Apple Car”.
More details of what could be agreed between the two companies came to light in a second report on Sunday.
“Apple Car” plan could involve the start of production as early as 2024, earlier than a previously-claimed 2027 schedule, as per the sources.
What About The Production Of Apple Car
Most Probably, the factory would be based in the United States.
Further, the proposals would involve the assembly of cars at a factory in Georgia owned by Hyundai affiliate Kia Motors, or the construction of a new factory in the country.
The plans would involve the production of over 100,000 vehicles in 2024, with an annual capacity of the plant being higher at 400,000 vehicles, according to the sources.
Beta Version Launch
The speculations also claim that Hyundai and Apple are planning to release a “beta version” of the car in 2022 to make a perfect vehicle.
Hyundai also issued a statement confirming that it was in early-stage talks with Apple after Friday’s report.
Although, the carmaker said that “nothing has been decided” at that stage.
But their confirmation in itself led Hyundai’s shares to shoot up almost 20%.
Expected Apple Car Launch
According to the analysts, a 2024 release for the “Apple Car” is slightly earlier than predictions and forecasts.
It wouldn’t arrive until 2025 at the earliest in a report from late December,as per the information proposed by TF Securities’ Ming-Chi Kuo.
In another report on January 7, rumored the upcoming vehicle launch is between five and seven years away from arriving on the market.
Market experts also have been generally positive on the “Apple Car’s” chances.
They believe that the rumored product has the potential to significantly disrupt the automotive industry, partly due to its potential to integrate hardware, software, and services.
It is also believed that Apple has the potential to pose a threat to Tesla.
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