It’s official.
The Apple/Hyundai talks are off for the time being.
South Korean carmaker Hyundai and affiliate Kia have declared they are no longer in negotiations with Apple to manufacture the rumored Apple Car.
Hyundai has publicly stated that it’s no longer in discussions with Apple regarding the project. In a regulatory filing, Hyundai and Kia said the two firms had received requests from multiple outfits about self-driving electric car development, but no decision had been made as the talks were at the early stages.
Hyundai and its affiliate, Kia, were reported in January to be in discussions with Apple regarding the “Apple Car” project/ Hyundai had taken the unusual step of confirming the talks prior to backing away from the statement. According to sources close to the story, Apple was reportedly upset with the public disclosure, which may have added tension to forthcoming negotiations.
On Friday, the discussions between the companies were paused, with internal disagreements with Hyundai having the potential to derail plans altogether. While the talks were occurring, it was rumored that Hyundai would bring production to the United States, operating a factory in Georgia controlled by Kia with a view to producing 100,000 cars by 2024. It was also rumored that Apple could make a $3.6 billion investment to make the project a reality.
Yet another rumor indicated that Hyundai was eager to hand over production duties of the Apple Car project to Kia completely, as the company worried its brand reputation would be damaged by becoming an assembler for other car companies instead of working on its own products.
Apple is said to currently be in discussions with at least six Japanese automakers regarding the Apple Car project at this time.
Stay tuned for additional details as they become available.
Via AppleInsider and Bloomberg