Apple and Hyundai will reach a partnership agreement to build the upcoming Apple Car by March, with production beginning by 2024, says a new report by Reuters, citing Korea IT News.
The report comes on the heels of a comment from a spokesperson for Hyundai last week that seemed to confirm that the Korean automaker is in talks with Apple regarding a potential Apple Car production deal.
The Korea IT News report said that the electric vehicles could be manufactured at a Georgia factory owned by Kia Motors, a Hyundai Motor Group affiliate, or they could invest in a new facility in the United States that could produce up to 400,000 vehicles annually. The report said that a “beta version” of the Apple Car could be released in 2022.
While the Reuters report says full production of the Apple Car may begin around 2024, that could be a bit ambitious, as a recent Bloomberg report said the Apple Car is five to seven years away from full production.
Reports last week indicated Apple is in negotiations with Hyundai to not only manufacture an electric car but to also develop batteries, due to the “enormous costs” of the technology and the production facilities required.
While the Korean automaker had confirmed its electric vehicle decisions with Apple, it later backed off a bit.
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