Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Vodacom’s Maziv deal gets makeover ahead of crucial hearing

      18 July 2025

      Cut electricity prices for data centres: Andile Ngcaba

      18 July 2025

      Takealot taps Mr D to deliver toys, pet food and future growth

      18 July 2025

      ‘Oh, Ani!’: Elon’s edgy bot stirs ethical storm

      18 July 2025

      Trump U-turn on Nvidia spurs talk of grand bargain with China

      18 July 2025
    • World

      Grok 4 arrives with bold claims and fresh controversy

      10 July 2025

      Samsung’s bet on folding phones faces major test

      10 July 2025

      Bitcoin pushes higher into record territory

      10 July 2025

      OpenAI to launch web browser in direct challenge to Google Chrome

      10 July 2025

      Cupertino vs Brussels: Apple challenges Big Tech crackdown

      7 July 2025
    • In-depth

      The 1940s visionary who imagined the Information Age

      14 July 2025

      MultiChoice is working on a wholesale overhaul of DStv

      10 July 2025

      Siemens is battling Big Tech for AI supremacy in factories

      24 June 2025

      The algorithm will sing now: why musicians should be worried about AI

      20 June 2025

      Meta bets $72-billion on AI – and investors love it

      17 June 2025
    • TCS

      TCS+ | Samsung unveils significant new safety feature for Galaxy A-series phones

      16 July 2025

      TCS+ | MVNX on the opportunities in South Africa’s booming MVNO market

      11 July 2025

      TCS | Connecting Saffas – Renier Lombard on The Lekker Network

      7 July 2025

      TechCentral Nexus S0E4: Takealot’s big Post Office jobs plan

      4 July 2025

      TCS | Tech, townships and tenacity: Spar’s plan to win with Spar2U

      3 July 2025
    • Opinion

      A smarter approach to digital transformation in ICT distribution

      15 July 2025

      In defence of equity alternatives for BEE

      30 June 2025

      E-commerce in ICT distribution: enabler or disruptor?

      30 June 2025

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » Motoring » Hyundai in ‘early talks’ with Apple over electric car

    Hyundai in ‘early talks’ with Apple over electric car

    By Agency Staff8 January 2021
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    Hyundai Motor Company said on Friday it was in early talks with Apple after a domestic broadcaster said the firms were discussing an electric car and battery tie-up, sending Hyundai shares surging 25%.

    The report came weeks after Reuters reported that Apple was moving forward with self-driving car technology and was aiming to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.

    Earlier on Friday, Korea Economic Daily TV said the iPhone maker and Hyundai were in discussions to develop self-driving electric vehicles by 2027 and develop batteries at US factories operated by either Hyundai or its affiliate Kia Motors. The broadcaster didn’t cite sources for its report.

    Apple and Hyundai are in discussions but they are at an early stage and nothing has been decided

    “Apple and Hyundai are in discussions but they are at an early stage and nothing has been decided,” Hyundai said in a statement without saying what the talks were about.

    In a regulatory filing issued later, the automaker said it was “getting requests for cooperation on joint development of autonomous electric vehicles from various companies”, without identifying any of them.

    Apple declined to comment.

    Challenge to Tesla

    An Apple-branded car could be a big challenge to electric vehicle (EV) market leader Tesla. It remains unclear who would assemble such a car, but analysts have said they expect the company to rely on a manufacturing partner to build vehicles.

    “We continue to strongly believe Apple ultimately announces an EV strategic partnership in 2021 that lays the groundwork to enter the burgeoning EV space,” Wedbush analysts said in a note.

    Hyundai and Apple already work together on CarPlay, Apple’s software for connecting iPhones to vehicles from a variety of automakers.

    “Apple outsourcing car production to Hyundai makes sense, because (the Korean firm) is known for quality,” said Jeong Yun-woo, a former designer at Hyundai and a professor at UNIST in South Korea.

    “But I’m not sure whether it is a good strategy for automakers to be like the Foxconn of Apple as automakers face risks of losing control to tech firms,” he added, referring to the Taiwanese contract manufacturer’s supply contract with Apple on iPhones.

    Analysts said Apple may be interested in using Hyundai’s electric car platform and facilities to cut costs to develop and make vehicles.

    Apple could see Hyundai as an ideal partner, because when it comes to legacy US automakers, they all have strong unions…

    “Apple could see Hyundai as an ideal partner, because when it comes to legacy US automakers, they all have strong unions, which Apple would like to avoid,” said Kevin Yoo, an analyst at eBEST Investment & Securities.

    “Moreover, their (legacy US automakers) labour cost is much higher than that of Hyundai, which often plays a big role when it comes to car production.”

    A tie-up with Apple would be a major boost to the automaker, whose global sales last year fell more than 15% as the pandemic took a toll on demand.

    A longtime champion of rival hydrogen fuel cell cars, Hyundai recently increased bets on battery-powered electric cars, a move welcomed by investors eyeing the recent success of Tesla.

    E-GMP

    The South Korean company, which sources batteries from SK Innovation and LG Chem and others, is expected to launch its first car based on a dedicated electric car platform known as E-GMP early this year.

    Hyundai does not have dedicated electric car factories in the US and it may have to gain consent from its powerful union in South Korea were it to seek to build EVs overseas, analysts said.

    Shares in Hyundai Motor jumped as much as 24.8%, hitting a more than seven-year high of 255 000 won, while auto parts maker Hyundai Mobis jumped nearly 30%. Kia shares jumped some 14%.  — Reported by Heekyong Yang, Hyunjoo Jin and Stephen Nellis, (c) 2020 Reuters



    Apple Hyundai Kia LG Chem top
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleSouth African-born Elon Musk is now the world’s richest man
    Next Article 10 tips for marketing in a down economy

    Related Posts

    Mental wellness at scale: how Mac fuels October Health’s mission

    15 July 2025

    Apple plans product blitz to reignite growth

    11 July 2025

    AI gold rush propels Nvidia to record $4-trillion market cap

    9 July 2025
    Company News

    Vertiv to acquire custom rack solutions manufacturer

    18 July 2025

    SA businesses embrace gen AI – but strategy and skills are lagging

    17 July 2025

    Ransomware in South Africa: the human factor behind the growing crisis

    16 July 2025
    Opinion

    A smarter approach to digital transformation in ICT distribution

    15 July 2025

    In defence of equity alternatives for BEE

    30 June 2025

    E-commerce in ICT distribution: enabler or disruptor?

    30 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.