Well known Apple analyst Ming-Chi Kuo on Monday bigged up the idea of the Apple Car and a partnership with Hyundai . If Kuo’s analysis rings true, the California-based tech giant isn’t only eyeing Hyundai, but General Motors and Stellantis, too. Apple Insider reported on Kuo’s latest remarks in an investor note for TF Securities, which specifically link Hyundai’s recently revealed E-GMP platform to the long-rumored Apple Car.
Neither Hyundai nor Apple immediately returned Roadshow’s request for comment on Kuo’s remarks, but both companies have been utterly silent on this news since it began to swirl in January. According to the analyst, Hyundai will make available its E-GMP platform and lead efforts in the design and production of some Apple Car components. Kuo also corroborates a detail that suggests Hyundai Motor’s Kia brand will handle production of the car at its plant in Georgia. He further dismisses the possibility that Foxconn, a crucial player in Apple’s iPhone , will be involved in the Apple Car. That’s despite Foxconn’s recent announcements that it plans to play in the EV segment.
What remains entirely unclear is what exactly Apple will bring to the table. Past reports claimed Apple has game-changing battery technology in development, but if Apple inks a deal to use Hyundai’s E-GMP platform, it’s hard to imagine a bespoke battery plopping into a fully engineered and developed platform. Kuo mentions that Apple’s goal in finding a legacy automotive partner is so it can focus on “self-driving hardware and software, semiconductors, battery-related technologies, form factor and internal space designs, innovative user experience.” This future car will be a “very high-end model,” according to the analyst. If that’s true, it certainly won’t be a Model 3 rival.
While all of Kuo’s note is interesting, he also brings up the possibility that Apple won’t stop with Hyundai. In fact, he brings up General Motors and Stellantis (formerly PSA Group) as two other possible partners for the vehicle. His thought is the tech giant may court specific partners in specific parts of the world. Stellantis has a massive footprint in Europe, while GM remains the largest US automaker. Hyundai may cover Asia. GM and Stellantis did not immediately return requests for comment.
As for when we may finally see an Apple Car, that’s still super cloudy. Some reports last month pegged a prototype debut for 2022, though Kuo believes 2025 is the earliest we’ll see something.