Hyundai 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%.
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At Tesla’s Battery Day event in September, CEO Elon Musk set himself an ambitious target: to produce a $25 000 electric car in three years. Hitting that price is seen as critical to deliver a true, mass-market product.
Tesla CEO Elon Musk urged miners to produce more nickel, a key ingredient in the batteries that power the company’s electric cars, warning the current cost of batteries remained a big hurdle to the company’s growth.