AAPL
Apple and Hyundai in talks over electric vehicle partnership
- Hyundai Motor (OTCPK:HYMLF) is up more than 20% in Seoul trading after
the company confirmed that it is in early stage talks with Apple (NASDAQ:
AAPL) about working together to develop a self-driving car, without any
firm plan in place yet.
- Reports suggest both electric vehicle production and battery
development have been discussed on an initial basis about a car that
could
potentially be released in 2027.
- Wedbush Securities analyst Dan Ives thinks Apple is looking at a
handful of strategic EV partnerships and collaborations globally with
existing automakers, including Hyundai.
- More from Ives: "We believe based on our investor conversations over
the last few weeks that many on the Street would rather see Apple partner
on the EV path, than start building its own vehicles/factories given the
margin and financial model implications down the road, coupled with the
strategic product risk around such a gargantuan endeavor. This speaks to
our view that the chances of a strategic partnerships with the likes of a
Tesla, VW, Hyundai or other auto manufacturers in China (e.g., Nio,
Xpeng)
are in the 70%+ range over the next few years and could lay the
groundwork
for a dual path (start building its own line of EV autos post 2025) over
the next decade if this EV/autonomous venture is successful with
consumers."
- The electric vehicle sector is red hot right now off the Apple buzz
and Blue sweep in DC.
|Yesterday, 10:01 PM|86 Comments
Apple and Hyundai in talks over electric vehicle partnership
- Hyundai Motor (OTCPK:HYMLF) is up more than 20% in Seoul trading after
the company confirmed that it is in early stage talks with Apple (NASDAQ:
AAPL) about working together to develop a self-driving car, without any
firm plan in place yet.
- Reports suggest both electric vehicle production and battery
development have been discussed on an initial basis about a car that
could
potentially be released in 2027.
- Wedbush Securities analyst Dan Ives thinks Apple is looking at a
handful of strategic EV partnerships and collaborations globally with
existing automakers, including Hyundai.
- More from Ives: "We believe based on our investor conversations over
the last few weeks that many on the Street would rather see Apple partner
on the EV path, than start building its own vehicles/factories given the
margin and financial model implications down the road, coupled with the
strategic product risk around such a gargantuan endeavor. This speaks to
our view that the chances of a strategic partnerships with the likes of a
Tesla, VW, Hyundai or other auto manufacturers in China (e.g., Nio,
Xpeng)
are in the 70%+ range over the next few years and could lay the
groundwork
for a dual path (start building its own line of EV autos post 2025) over
the next decade if this EV/autonomous venture is successful with
consumers."
- The electric vehicle sector is red hot right now off the Apple buzz
and Blue sweep in DC.
|Yesterday, 10:01 PM|86 Comments
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