Following the acquisition of Boston Dynamics, Hyundai's future will also involve a major partnership with Apple. For the Apple brand, the Korean automaker will build the battery for its next electric car. A very serious announcement, published this Friday morning by a local media, Hankyung.
For the moment, Hyundai does not produce its own batteries. Among the most pioneering with Toyota, its range of electric models uses LG Energy Solution and SK Innovation suppliers for components. But we have known since last May that Hyundai will soon start producing batteries.
Hyundai's share price this Friday soared 18% following the announcement. But another manufacturer, also from South Korea, was in the green with 8% growth in the last session of the first week of 2021, and that was Samsung.
What is the relationship between the two brands? Eight months ago, when it was announced, Hyundai had indicated that the arrival of its first "home-made" battery for electric cars would be made in partnership with Samsung, one of the competitors but also supplier of Apple. Indirectly, Apple might need Samsung for its electric car, as is historically the iPhone's case.
An Apple Car, not before 2027
On the other hand, the bad news will concern the date advanced in the report of the local media: 2027. The development of Apple's electric car could take much longer than what was announced last month in a Reuters dispatch, announcing its part a potential presentation in 2024. Hyundai should focus on the battery, but we don't know if other car elements will be supported.
In December, this question was already asked when Apple put its "Project Titan" back on the scene, as it is called. It's hard to believe for some analysts that the Cupertino-based firm, despite being the biggest company in the world, can enter a market - the automotive market, moreover, with its legislative difficulties - without asking for help from a traditional manufacturer to get through the process.
The information is confirmed today. On this subject, the report released this Sunday stated that Apple had had other talks with different companies, but all of them were car manufacturers. Hyundai has not yet been formalized as a partner, but the story will at least certify that "Project Titan" has not been abandoned, and that the Apple Car could already give us a date and ask for patience.