US smartphone maker Apple Inc. is working on a plan to make electric cars. For this, Apple has agreed a partnership with Hyundai Motor of South Korea. The two companies will sign an agreement by March this year. The joint venture of the two companies could start production of electric cars from the US in 2024. This has been claimed in a report in a local Korean newspaper.
Hyundai Motor confirmed the talks on Friday
The report comes after Hyundai Motor’s Friday statement. In the statement, Hyundai said that it is in preliminary stage of talks with Apple to make electric cars. Earlier another local media outlet claimed that Hyundai Motor and Apple were planning to launch a self-driving electric car by 2027. After this report came out, Hyundai shares had jumped up to 20%.
KIA Motors’ Georgia factory may start production
According to industry sources in the latest report, two plans are being worked out under this agreement. Under the first plan, production can be started from Kia Motors factory in Georgia. Kia Motors is a subsidiary of Hyundai Motors. Under the second plan, both companies can build a new factory in the US through joint investment. The proposed factory will produce 100,000 vehicles in 2024. The plant will have an annual capacity of 400,000 vehicles.
Beta version of the car may be released next year
The report says that Hyundai and Apple are planning to release a beta version of the car next year. This electric car can be named Apple Car. However, Apple has not yet responded to this. Last month, Reuters said in a report that Apple is working on autonomous car technology. The company plans to make passenger vehicles by 2024. The company can use its own breakthrough battery technology in this vehicle.