Since the year 2014, an internal team at Apple had been working towards developing an ‘Apple Car’. The team consisted of a bunch of experts hand-picked by the company and all the work regarding the development of this project happened under the name ‘Project Titan’. Getting into the automobile manufacturing space was a long-standing dream of the company that had successfully manufactured and distributed a wide range of tech-based products.
A long-standing dream in the making
Though the global tech giant had been working towards the realization of their dream project for the last six years, the fact was that it was unhappy with the kind of headway it had made in this direction. A while back, it started considering the idea of collaborating with another company so that things could move a little faster.
Recent reports suggested that Apple was in talks with the multinational automotive manufacturing company Hyundai to manufacture the self-driving car envisioned by the former. Though a formal announcement has not been made by any of the two companies, it has been reported that both the top leadership in the two organizations are in advanced talks and the possibility of a deal inked between them is very high.
Two giants joining hands
According to a report published in Reuters, the two companies are very positive about formalizing a deal together and once that happens, they would chalk out a plan to develop the overall structure and figuring out the logistics associated with the car. Apple is aiming to start the production of the car by the year 2024 and expects Hyundai’s co-operation and assistance in ensuring that the car is launched in the market by the targeted date. The factory where the car will be manufactured will most probably be in the United States.
Kia Motors, an affiliate company of Hyundai, has a factory in Georgia. The companies are toying with the idea of getting the cars manufactured in this spacious and well-maintained factory. There are also possibilities of the two companies investing in the construction of a new factory somewhere in the United States. The reports claim that Apple and Hyundai are planning to produce close to 100,000 cars in the year 2024. The annual capacity of the factory, though, is expected to be much higher at 400,000 cars.
The plans ahead
To ensure that the final product launched in the market is in accordance with their grand vision, Apple and Hyundai have planned to launch a ‘beta version’ of the car as early as 2022. Based on the kind of feedback they get from experts and general consumers who get to test it, they will be making further modifications to the car.
On Friday, Hyundai released an official statement which confirmed the fact that it was, indeed, in talks with Apple for a possible collaboration between the two companies but nothing has been put on paper yet. There was a lot of excitement in the trade which was fairly visible by the fact that Apple’s shares shot up by almost 20% as soon as this news broke out.
2024 is the year by which Apple, in collaboration with Hyundai, seeks to launch its dream vehicle. But, trade analysts predict that the market shouldn’t expect the car at least till 2025. Another report states that the proposed car would take another five to seven years to hit the market.