Friday, January 8, 2021

Apple Reportedly In Talks With Hyundai To Co-Develop Its Project Titan EV

In late 2020, Reuters revealed that Apple is developing its first ever electric vehicle (EV) under the name Project Titan, due to launch sometime between 2025 to 2027. Details of the project is sparse at this time, but a recent report is suggesting that Hyundai could potentially be involved in the development.

According to CNBC, it is said that Apple has reached out to the South Korean automaker to discuss on a collaboration. The news agency cited a Hyundai spokesperson, who confirmed that the talks are still in its early stages and that a decision has not been made at this time.

Korea Economic Daily added that the automaker is currently reviewing the terms that has been proposed by Apple. The proposal is mentioned to include the production of an electric vehicle and battery, with an expected 2027 launch window.

When reached out by CNBC, Apple declined to comment regarding the car’s development or the potential partnership with Hyundai. The automaker, on the other hand, then released an updated statement saying that it has received requests of “cooperation from diverse companies” regarding development of EVs, but avoided mentioning the iPhone maker by name.

Concurrently, news of the talks between the two companies also caused a recent 23% boost in market share for Hyundai and its affiliates in South Korea. With its launch window still far off, it remains to be seen whether the automaker will actually have a hand in Apple’s Project Titan development.

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