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Apple Is Desperate for an Apple Car Manufacturing Partner, Analyst Says

Everybody knows Apple is working on a car, and while the company is trying to stay silent on the project and avoid disclosing any specifics, analysts expect the Cupertino-based tech giant to at least share some details later this year.
Apple has so far remained tight-lipped on the Apple Car project 1 photo
But a lot is happening behind closed doors in Cupertino, and one analyst believes Apple is actually desperate to find a partner to manufacture the car.

Speaking for EE Times, CLSA analyst Patrick Chen says there’s a very good chance Apple ends up working with Foxconn on an EV project, though it’s not yet clear if this is the company that will handle the manufacturing process.

Apple is indeed desperate,” the analyst has been cited as saying. “They are indeed in talks with Foxconn for some kind of cooperation.

But according to other sources, while Apple has indeed discussed a potential EV partnership with Foxconn, a joint venture between LG and Magna could be the one taking care of the Apple Car production.

Apple has previously reached out to Hyundai for the manufacturing of the Apple Car, but the talks have been dropped, possibly because the South Korean company spilled the beans on the project. Since then, Apple has reportedly tried to get in touch with a series of other traditional carmakers, including Nissan, but the talks have all failed to reach a conclusion.

Apple is expected to launch the Apple Car in 2024 or 2025 at the earliest, and if Magna and LG take care of the production process, a prototype could see the daylight approximately one year before. But of course, everything depends on how the planning phase advances, as right now, Apple is yet to find someone to build its car.

In the meantime, Foxconn is getting ready to set up EV production lines in North America, with a decision on which location to be used to be made by the summer of this year.

 
 
 
 
 

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