Plans for the Apple Car had a temporary setback . . .
With Hyundai confirming that negotiations with Apple had failed.
This suggests that Hyundai’s Kia division will NOT be building the Apple Car in Georgia. And it opens the door for Apple to secure a new manufacturing partner.
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Rumors started flying in December that the Apple Car could be coming within three years.
By January, Hyundai confirmed that it was in talks with Apple. News reports suggested that Kia could begin manufacturing the car at a Georgia plant.
Shares of Hyundai soared as much as 20% after confirming talks about the Apple Car.
However, Apple is notoriously secretive with its negotiations . . .
Apple CEO Tim Cook was likely furious that Hyundai executives announced negotiations. And that fatal move may have lost the South Korea automaker a deal for the Apple Car.
Apple is now searching for a new partner to manufacture its autonomous electric vehicle.
Rumors suggest that Volkswagen could be in the running for a partnership. The company’s Electric Drive Matrix could allow it to easily build vehicles for Apple.
Apple appears likely to rely on important partners for the new car.
For example, one lidar company was founded by two former Apple engineers. The company could become a major supplier of lidar for the new Apple Car (click for details on this Pre-IPO).
Another partner could include a Texas EV battery company.
This company’s hyper-fast charging batteries could be perfect for the Apple Car. That’s because they’re 100% non-flammable and can be fully charged in 15 minutes.
Nobody knows exactly WHAT will be inside the new Apple Car.
Yet it’s clear that Apple wants to begin making autonomous EVs within the next five years. Apple’s move into the auto market is huge – and it could create windfall profits for key suppliers.
The EV boom is happening right now. And private EV stock are rushing to go public.
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