Apple and Hyundai Said to Ink Electric Car Deal by March: Report

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After hearing about preliminary talks about Apple and Hyundai working together for an electric car, a new report from Korea IT News says both companies plan to ink a final deal in March, reports Reuters.

The deal would see Hyundai help Apple with self-driving electric car production starting “around 2024” in the United States.

The original Korea IT News was edited to remove details about the plans between Apple and Hyundai. But Reuters says the story noted the Kia Motors factory in Georgia would be where an Apple car would be built. Kia is a subsidiary of Hyundai.

Another idea was a new joint factory in the U.S., with an initial capacity for 100,000 vehicles by 2024 or so, with the expected full annual capacity of this suggested plant at roughly 400,000 vehicles.

The Korean report also said Apple and Hyundai plan to release a “beta version” of the said electric car by 2022.

Tesla surpassed 500,000 vehicles produced in one year for the first time, achieving the milestone last month. That production came from the company’s Fremont factory in California and the new Gigafactory in Shanghai.

It hasn’t been exactly easy for Tesla to ramp up to its 500,000 production goal, so it will be interesting to see if Apple is able to ramp up its electric car ambitions in a short period of time, even if they are partnering with Hyundai, which isn’t exactly known for their build quality, despite improving over time.

Just last week, Hyundai recalled 471,000 Tucson SUVs in the United States, for an electrical short that poses a fire risk. The automaker says owners should park their cars outside in the meantime.

Recent reports have speculated on Apple’s autonomous electric car plans, which includes a team consisting of former Tesla engineers, working on all aspects of this said vehicle, including its self-driving unit. Apple’s electric car plans are said to be at least five years away still, according to Bloomberg.

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