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Hyundai says it’s in early talks with Apple about developing an electric car

The vehicle could reportedly be released in 2027

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Photo (c) boonchai wedmakawand - Getty Images
Hyundai Motor says it has held discussions with Apple about the possibility of developing an electric car. An unnamed spokesperson for the South Korean automaker confirmed to CNBC that the talks have happened but that they are still in the early stages.

“We understand that Apple is in discussion with a variety of global automakers, including Hyundai Motor. As the discussion is at its early stage, nothing has been decided,” the spokesperson said. 

The announcement followed a Korea Economic Daily report that said Apple was the one that suggested that Hyundai team up with it to develop a car, as well as batteries. The report said Hyundai was still looking over the terms but that the car could potentially be released in 2027. 

An Apple electric car? 

Rumors about an Apple car have been swirling since the tech giant created an internal group called Project Titan in 2014. Last month, Reuters reported that the Project Titan self-driving electric car effort could produce a vehicle with a battery that features a “breakthrough” design by 2024. 

”It’s next level,” a person with knowledge of Apple’s battery technology told Reuters in December. “Like the first time you saw the iPhone.”

Speculation about a Hyundai-Apple electric car collaboration sent Hyundai shares up 19 percent. The automaker later released a statement without mention of Apple. Hyundai emphasized the fact that nothing has been decided. 

“We’ve been receiving requests of potential cooperation from diverse companies regarding development of autonomous driving EVs, but no decisions have been made as discussions are in early stage,” the company said. 

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