Hyundai Motor, Apple set to agree electric auto tie-up, says report

Apple-Hyundai Deal Self Driving Electric Car

In 6 year’s time Apple too would be a car manufacturer

Hyundai Motors has yet to comment on the new information that was revealed about its possible partnership with Apple.

That's according to a report on Sunday in the local paper Korea IT news.

It led to huge investor excitement, with shares in the carmaker up almost 20 percent on Friday. And behind the unusual rise was USA tech giant Apple.

It was said that the company already reviewed Apple's proposal, and the only thing that remains is Hyundai chairman Chung Eui Sun's decision.

Apple has reportedly been working on an Apple Car project since at least 2014.

The partnership would allow the two companies to focus on what they do best, with Hyundai bringing its automotive manufacturing expertise and Apple its software and battery prowess.

"We have received requests of potential collaboration from a variety of companies about the development of self-driving electric cars", the company said in a regulatory filing. "As the discussion is at its early stage, nothing has been decided".

The Korean vehicle maker, however, backtracked on its claim of negotiating with Apple after making several revisions to its original statement. Reuters previously said Apple's vehicle might lean on cutting-edge battery technology that would extend range, improve safety and avoid the use of cobalt. Really, the mannequin has been completed for a very long time, however the model He hopes that the mum or dad firm he belongs to will unveil the new IONIQ 5 so as to make his double debut.

By contrast, some watchers warn against overly optimistic expectation because the possibility of their business alliance is still in the dark. The partnership would give Apple's plans an immediate boost by giving it access to a proven auto manufacturer with the ability to design and develop a vehicle whereas Apple alone would be starting from scratch.

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