"Apple Car" Attracts Overflowing Attention... Will It Finally Join Hands with Hyundai Motor Group?

[Asia Economy Reporter Kim Hyewon] As news continues to emerge both domestically and internationally that Apple is partnering with Hyundai Motor Group to produce a self-driving electric vehicle called the ‘Apple Car,’ attention is focused on whether the deal will be finalized. While the general consensus is that Apple’s proposal for joint production with Hyundai or Kia is significant, there is a cautious atmosphere within Hyundai Motor Group, with concerns about the possibility of negotiations breaking down.

According to industry sources on the 4th, Hyundai Motor Group plans to further clarify its position on the cooperation rumors with Apple through disclosures on the day of Kia’s ‘Investor Day’ on the 9th. Hyundai Motor Group currently has a separate negotiation team dedicated to talks with Apple. However, after related information leaked externally while discussing specific cooperation scopes, it is reported that Apple has adopted a defensive stance.

On the same day, the U.S. economic media CNBC also reported that negotiations between Apple and Hyundai Motor Group and Kia regarding the Apple Car are approaching the final stages, but no final agreement has been reached, leaving open the possibility that Apple may choose another automaker. Apple is known to be negotiating with various global automakers, including U.S. GM and European PSA, in addition to Hyundai Motor Group. According to CNBC, a source familiar with Apple’s automotive development strategy said, “Hyundai Motor Group is not the only automaker they (Apple) consider to finalize negotiations with.” Both Apple and Hyundai Motor Group and Kia declined to comment to CNBC.

Although the details remain unclear at this point, the market openly expresses high expectations for the Apple Car that Apple and Kia will jointly produce. The scenario that Kia will receive trillion-won scale investments from Apple to build a dedicated factory and produce the Apple Car in the U.S. using the electric vehicle platform (E-GMP) is gaining credibility. From Apple’s perspective, which requires a stable quality production base, Hyundai Motor Group, with an annual production capacity exceeding one million units in the North American region, is an attractive partner.

AppleInsider cited a report from Guo Mingchi, a Taiwan Tianfeng International Securities analyst known as an Apple specialist, predicting that Apple’s first Apple Car will be based on Hyundai Motor Group’s dedicated electric vehicle platform. It also anticipated that Hyundai Mobis would lead parts design and production, while Kia would be responsible for complete vehicle production in the U.S. The release timing is expected around 2025. CNBC also reported that production is scheduled to begin in 2024 but the final launch could be delayed, making the likely time to encounter the Apple Car around 2025. An industry insider said, “It is uncertain whether Hyundai Motor Group and Apple will achieve positive results, but it is true that negotiations are proceeding cautiously,” adding, “Among many automakers, this is a case where Hyundai Motor Group’s future mobility capabilities and technological prowess have been highly evaluated.”

This content was produced with the assistance of AI translation services.