Apple is ‘very close’ to signing deals with South Korean tech giant LG and Canadian auto parts maker Magna to produce the ‘Apple car’ electric vehicle, according to South Korean news outlet Korea Times.
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Last year, Hyundai was considered the most likely partner of Apple in the electric car production project that the company is actively developing.
The Korean company previously confirmed it was in talks with Apple to jointly develop an electric self-driving car after Apple announced its intention to launch a car bearing its name.
However, on Feb. 8, Hyundai confirmed that negotiations on co-manufacturing electric vehicles with tech giant Apple had collapsed.
Since the end of 2020, Apple has shown that it is cherishing a plan to invest $ 3.6 billion to market its electric vehicle products in 2024. However, Apple does not seem to find an umbrella manufacturer. which car is suitable when the negotiation deal with Hyundai or Nissan falls apart.
However, Apple recently publicly negotiated with Magna, a Canadian auto parts supplier. It is known that this company has signed an agreement to supply spare parts for the Fisker Ocean model.
Although Magna does not manufacture cars under its own brand, and LG has never been directly related to the auto industry, the two companies recently announced a “LG Magna e-Powertrain ”. Last December, they agreed to jointly develop motors, inverters and chargers for electric vehicles.
According to the Korea Times, Apple has signed an agreement to produce the first series of electric cars with the consortium. The source of the newspaper stressed that the details of the cooperation are still being discussed, with the announcement of Apple’s electric vehicle likely to take place in 2024.
The Drive notes that Apple chose LG and to create the “Apple Car” is completely grounded, because the iPhone manufacturer has bought LG’s display for a long time. experience in developing and manufacturing custom-made products, and this is different from Hyundai: Magna’s Austrian branch, for example, produces Jaguar I-Pace and Toyota Supra gasoline-powered electric cars. usually, common, normal.
On the Apple side, the company recently said that the first electric car could not be released to the public before 2024. Instead, the plan will be pushed back to 2028 because Apple sets a very high standard for new products. mine.
Apple also admits there is no breakthrough in battery technology. The company was forced to buy exclusive designs and software.
Once the third largest smartphone manufacturer in the world in 2014, Korean electronics company LG on April 5 officially became the first major smartphone brand to completely withdraw from the market.
LG said this is a strategic decision to help the company focus resources on growing areas such as components for electric cars, connected devices, smart homes, robotics, and intelligence. business creation and solutions, as well as platforms and services.
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