Following leaks and rumors, a more definitive statement from Hyundai
In December 2020, a Reuters story cited sources with knowledge of the project to confirm the existence of the long rumored “Project Titan” otherwise known as the “Apple Car”. Now, based on a statement from a Hyundai spokesperson, “AppleCar” is moving forward in the form of discussions with potential manufacturing partners.
Hyundai also confirmed to CNBC that discussions with Apple has begun, but added the caveat that they “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.”
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This hesitation could stem from the possibility that the initial statement may have been interpreted as hinting that an agreement could be imminent, sending Hyundai’s stock 23% higher. The surge in the price followed a report by the Korea Economic Daily which had implied that Apple suggested the tie-up and Hyundai Motor was reviewing terms.
Apple doing what Apple does
Even after the Reuters report in December, many were still skeptical, and today the time frames being discussed are very conservative mentioned a 7 year time horizon, even while the Reuters report mentioned at least the possibility, however remote, that 2024 could see an actual release onto the consumer market.
It is historically established that Apple often enters established markets for specific products and, in may cases, makes a ultra high quality, uniquely “Apple” version. EVs are now firmly established as the future of individual sustainable transport, but with Tesla having set the quality and popularity bar as high as it has, Apple will have a challenge ahead of it to produce a likely self-driving fully realized electric vehicle to match the state of the art in 2024 and beyond.
At CES 2020 Hyundai unveiled new technologies they already have in development, such as EVs, driverless and even flying cars.
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The fact that Tesla founder Elon Musk is now the richest man in the world, after removing that title from Amazon founder Jeff Bezos, is not a factor in the “race” to build the best software and hardware for the future of EVs, but is an added dramatic fact that serves as a backdrop to the intrigue.
And hey, wow, imaging having a variety of non-polluting, sustainable energy vehicles to choose from by the worlds top manufacturers and with Apple and Tesla battling it out at the high end to provide the best and most desirable.
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