Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Apple Inc is reportedly in early discussions with South Korean automaker Hyundai Motor to produce the former’s first-ever electric vehicle (EV).


According to media reports, the companies will utilize a 100,000 unit per year factory in Georgia, owned by Kia Motors, a subsidiary of Hyundai, beginning in 2024. The plant will eventually scale-up to produce 400,000 EVs per year. Apple plans to begin testing using a beta version or prototype of the EV next year. 


In late 2020, Apple declared plans to begin producing its own car, using patented battery technology, and was looking to tie up with an auto manufacturer. On Jan 8, Hyundai had announced its intention to release a self-driving car in partnership with Apple by 2027. 

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