Apple Inc.
AAPL
$175.49
−3.58 (2.00%)
Apple in Talks With Hyundai over Car Ambitions

Published by

December 5, 2024
(GMT+2)

Apple Inc has been in talks with Hyundai Motor Co. regarding cooperation on driverless, electric vehicles, the South Korean car giant said.The brief statement, which sent Hyundai’s shares surging early Friday in Seoul, included no details and said talks were preliminary but provided rare public confirmation of Apple’s car-oriented efforts. The iPhone maker has been working secretly on a car project in fits and starts for over six years, while watching the success of Silicon Valley’s Tesla Inc. spark interest in electric vehicles.In recent weeks, Apple has reached out to suppliers over the likelihood of doing its own car, potentially launching production as soon as 2024. Apple shelved a previous effort to develop its own car a few years ago to focus on driverless car technology.

WHAT TO READ NEXT

Ready to get started?

Start trading with the full package, from state of the art platform to free tool and favorable transaction fees.