Hyundai and Kia confirm Apple Car talks have ceased

Hyundai and Kia confirm Apple Car talks have ceased

As reported by Bloomberg last Friday, Hyundai confirmed yesterday that it is no longer in talks with Apple about the possible production of the Apple Car. We do not know exactly what caused the cessation of the negotiations that were publicly confirmed about a month ago.

No more conversations, at least public

Hyundai and Kia confirm Apple Car talks have ceased

Last month Hyundai publicly confirmed that it had entered into discussions with Apple about a possible partnership to make the rumored Apple Car. In a subsequent statement, the automaker removed any mention of Apple, simply stating that it was working with autonomous driving technology.

Several sources have emerged throughout the month commenting on the conversations between Apple and Hyundai, including a potential $ 3.6 billion investment by Apple in the Kia plant. The deal seemed to be going ahead when, this past Friday, Mark Gurman claimed that Hyundai and Apple had broken up the negotiations, apparently because Apple was “upset” by the erroneous statement last month. Yesterday, Sunday 7th, Hyundai and Kia confirmed the news.

In a new regulatory document Hyundai and Kia report that they are not in talks with Apple. In the documents, the automaker acknowledges that “they have been having conversations with multiple companies about the development of an autonomous electric vehicle”, but that no decision has been reached. Hyundai’s shares have slumped 8.4%, while Kia’s 15.3%, following the news.

Hyundai and Kia confirm Apple Car talks have ceased

For now, the development of the Apple Car is in the early stages and the car is not expected to hit the streets until 2024 in the most hopeful predictions. This means that the Cupertino company still has considerable time to find and negotiate with an automobile manufacturer to allow it to manufacture the future autonomous car. As far as we know, Apple is in talks with “at least six manufacturers” for the production of this vehicle.

Lastly, it should be remembered that, although the cessation of negotiations has been publicly acknowledged, this does not necessarily mean that they cannot be resumed – this time in a more discreet way – after a certain time. In any case, it is clear that, regardless of the agreement between Hyundai and Apple, the Cupertino company is preparing to manufacture an autonomous car.

The truth is that we have been hearing rumors about this vehicle for more than 5 years. The same “Project Titan” was revealed in 2014 and has been followed by tests, hires, counter-hires, changes of address, etc. Even with all the steps in this direction, we do not know Apple’s plans for this car, but, at least, it seems that development continues and that, at some point, hopefully within the 20s, we will see this Apple Car appear.

Categories: Technologies

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