Rumours of a possible Apple Car in the making has been doing rounds for quite some time. But so far, industry experts have been outright rejecting such claims as the iPhone maker has little to no expertise in the automobile space.
That being said, after the surfacing of a recent media report out of Korea, things might change. According to Korea Times, the Cupertino-based tech giant has finally found a partner to help them manufacture its eclectic Apple Cars!
People in the know have revealed that both LG and Magna are expecting to collaborate with each other on an initiative dubbed “LG Magna e-Powertrain”, a joint venture that will supposedly initially produce the first round of Apple Cars.
The report further added that the LG-Magna joint venture won’t be handling a very high production volume because Apple intends to gauge the market demand and consumer sentiments with its first-generation electric cars. Apple is allegedly targeting 2025 to launch its electric car, which is being expected to be equipped with autonomous features as well.
The Korean Times noted that L.G., post its recent exit from the smartphone market, is looking forward to growing its vehicle component business. In the last month, it was reported that the Seoul-based company is increasing its production capacity for its exiting automotive components’ business which goes forward to suggest the conditions are absolutely ripe for the alleged deal to happen.
In recent years, Apple has hired for several automobile-related roles and has reportedly been in talks with numerous talks about manufacturing an Apple-branded car. Earlier in 2021. the iPhone maker’s discussions with Kia, Hyundai’s sister company, failed to fructify. And though the reasons pertaining to why it failed, some had suggested that the Korean automakers didn’t want to tarnish their mainstream image by becoming a contract manufacturer similar to how Foxconn makes iPhones.
Now, suppose one is to believe that is the true reason. In that case, L.G. and Magna are a perfect fit for Apple because, unlike Hyundai and Kia, they aren’t associated with the automobile industry in a mainstream manner. Thus it would allow the U.S. tech giant to retain the sole branding of the car.
Nonetheless, all said and done, there still remain chances Apple’s possible partnership with L.G. and Magna might not come to fruition at all. And, while it is true that Apple has so far kept all information about its upcoming projects under wraps, the Cupertino-based tech giant does seem to be intent on designing its own electric car rather than simply providing software to existing bigwig automakers.
In a recent interview, Tim Cook, CEO of Apple, dropped a few hints. He said Apple has always loved integrating hardware, software and services and harbours the desire to own the primary technology. Maybe that is a sly reference to the Apple Car? Only the future can tell. We will keep you updated on all future developments. Until then, stay tuned.