Anticipating an Imminent Exit of Hyundai from the Competition for Apple's Automobile Project
Hyundai's recent misstep might have put a dent in their plans. Last night, the company hinted at a potential collaboration with Apple to create a self-driving electric car. But just as quickly as the news spread, Hyundai backtracked.
Initially, the Korea Economic Daily reported that Apple had approached multiple global automakers, including Hyundai, for early discussions about a potential partnership. Hyundai said it was reviewing Apple's proposal, but a swift revised statement erased any mention of the tech giant.
"We've been receiving requests of potential cooperation from diverse companies regarding development of autonomous driving EVs, but no decisions have been made as discussions are in early stage," Hyundai stated. Oops.
This hiccup may not necessarily mean the end of a potential Apple-Hyundai partnership. Apple has a reputation for disliking leaks and goes to great lengths to disguise and destroy prototypes. Even if Hyundai's claims are legitimate, its hasty retraction likely warranted a stern talking-to at least.
Rumors of an Apple Car have been swirling since 2014, when the company began Project Titan. Initially, it seemed that Apple was working on the hardware for an iCar, but shifting gears toward developing software was the future. Recently, however, a Bloomberg report noted that Apple has a team of hardware engineers working on drive systems, vehicle interiors, and exterior car designs.
Apple has shown interest in the auto industry, evidenced by occasional patent filings and poaching talent from Tesla. In 2019, Apple let go of over 200 employees working on the secretive project, but the company has since added more ex-Tesla executives to its ranks.
While some have predicted that we might see an Apple Car as early as 2024, analysts have warned against skepticism. Ming-Chi Kuo and Bloomberg's Mark Gurman have both speculated that a launch wouldn't happen until at least 2025, with a 2028 or later launch date being much more likely.
Shopping around for a partner is a significant step toward bringing Project Titan to life. If the partnership with Hyundai doesn't materialize, at least we'll have some insight into why.
- Despite Hyundai's denial, the rumors of a potential collaboration between Apple and Hyundai for a self-driving electric car continue to circulate in the tech industry, fueled by Apple's reputation for secretive projects and prototype protection.
- With Hyundai's recent statement about reviewing Apple's proposal for autonomous driving EVs, rechargeable prototype vehicles might be part of their future technology plans, aligning with Apple's interest in the auto industry and its ongoing Project Titan.
- If the partnership between Apple and Hyundai fails to materialize, tech enthusiasts and analysts might point to the company's history of dealing with leaks and protecting prototypes as reasons for Hyundai's swift retraction of its initial statements.
- CNBC, along with other tech news outlets, will likely continue to track Apple's progress in the auto industry, reporting on any potential collaboration with other automakers and sharing updates on the development of rechargeable prototypes, signaling the future of technology in the self-driving electric car market.
