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Apple is still searching for someone to build its Apple Car after the talks with Hyundai and Nissan came to no conclusion. While the company is believed to be looking into partnerships with a series of other automakers, everybody is wondering if the iPhone maker still has the time to join the EV battle before it’s too late.
Wedbush analyst Daniel Ives has recently said in a note to investors that it’s essential for Apple to bring the Apple Car on the road by 2024, as this could make the company “a major force in the EV industry.”
In other words, the Apple Car could land in the EV market just at the right time, thus becoming a powerful alternative to the likes of Tesla, GM, and Ford.
The analyst says Apple’s autonomous EV car could “disrupt market share” from these companies, but only if the Apple Car isn’t late to the party.
Rumor has it Apple was in advanced talks with Hyundai over the manufacturing of the Apple Car, but negotiations failed to reach a conclusion after the South Koreans spilled the beans on the project. Hyundai briefly confirmed it was discussing with Apple on the production of an EV, and this didn’t sit well with the leadership team at the iPhone maker.
Since the talks were dropped, Apple considered several other options, and people with knowledge of the matter said the company also reached out to Nissan. However, discussions with the Japanese firm were abandoned quickly due to divisions over branding.
Nissan is afraid of becoming the “Foxconn of automakers,” as the company wants to remain a genuine automaker and avoid turning into the builder of other popular car models on the market. Foxconn is currently the largest maker of smartphones, now serving as the top Apple partner for the manufacturing of the iPhone.
In other words, the Apple Car could land in the EV market just at the right time, thus becoming a powerful alternative to the likes of Tesla, GM, and Ford.
The analyst says Apple’s autonomous EV car could “disrupt market share” from these companies, but only if the Apple Car isn’t late to the party.
Rumor has it Apple was in advanced talks with Hyundai over the manufacturing of the Apple Car, but negotiations failed to reach a conclusion after the South Koreans spilled the beans on the project. Hyundai briefly confirmed it was discussing with Apple on the production of an EV, and this didn’t sit well with the leadership team at the iPhone maker.
Since the talks were dropped, Apple considered several other options, and people with knowledge of the matter said the company also reached out to Nissan. However, discussions with the Japanese firm were abandoned quickly due to divisions over branding.
Nissan is afraid of becoming the “Foxconn of automakers,” as the company wants to remain a genuine automaker and avoid turning into the builder of other popular car models on the market. Foxconn is currently the largest maker of smartphones, now serving as the top Apple partner for the manufacturing of the iPhone.
Google News