Hyundai Fears Creation Of Joint Electric Car With Apple

2023 Author: Natalie MacDonald | [email protected]. Last modified: 2023-05-21 02:36

A joint project with Apple to create an electric car for the IT giant could cost some of Hyundai's top managers jobs. According to Reuters, a number of company executives consider this merger a blow to the image of the South Korean firm.

• Hyundai fears that the interaction with Apple will lead to the fact that the company will be regarded as a kind of technological appendage of the IT giant, and not as an independent company with already gained authority and established reputation. More than anything, agency sources in the company's management fear a blow to the image of the recently launched premium brand Genesis.
• The details of the talks between Hyundai and Apple have not yet been officially announced, although, according to the agency, they have been underway since 2018. At the moment, according to some sources, Apple is not considering the Korean company as a manufacturer, but as the main assembler of electric vehicles, the components for which will come from different suppliers.

• In turn, Hyundai plans to entrust the role of Apple's official partner to the Ki brand and to assemble electric cars at the Ki plant in the American Georgia. However, agency sources emphasize that this is only a preliminary decision. In the process of making the final - if the project still develops - the Hyundai-Ki alliance may fire some of the top managers who are most actively protesting against the joint project with Apple.
• The negotiations conducted by the parties became known at the beginning of the year. Apple is going to bring an electric car of its own design to the market by 2024, but does not plan to develop production facilities for this, hoping to use the existing partners.