Anchor: News that Hyundai Motor and Apple may sign a deal to build self-driving electric cars has drawn keen interest from gearheads and investors around the world. However, neither party is saying much officially, and some warn a deal might not be in Hyundai’s favor.
Robert Koehler has this report. 

Report: Rumors of an imminent deal between South Korean automotive giant Hyundai Motor and U.S. electronics titan Apple to produce self-driving electric vehicles continue to heat up the car industry.

On Sunday, Reuters reported that Hyundai and Apple plan to sign a partnership deal on autonomous electric cars by March and start production in the United States around 2024, quoting local South Korean media.

This followed a report last Friday by the TV unit of South Korean business daily Hankyung that Apple and Hyundai are in talks to jointly develop the so-called “Apple Car,” a self-driving electric car that would hit markets in 2027.

According to the Hankyung TV report, Hyundai has already completed internal discussions of Apple’s proposal and is awaiting only approval from CEO Chung Eui-sun.

The report also said Hyundai and Apple would jointly develop the car’s exclusive battery.

Neither Hyundai Motor nor Apple has officially confirmed the rumors. Hyundai says Apple is in talks with several global carmakers to produce electric vehicles, but admitted the two are in early-stage negotiations.

Moreover, a Wednesday report in South Korea’s influential daily Chosun Ilbo suggests there are heated discussions over Apple’s proposal within Hyundai, where there is reportedly concern that the company might become just another subcontractor for the iconic Silicon Valley company.

The Chosun Ilbo also reports that a deal with Apple may harm Hyundai’s drive to develop its own operating system for electric vehicles.

The Wall Street Journal, too, warned investors in Hyundai on Monday that contract manufacturing isn’t an attractive business, calling Apple’s electric vehicle a “poisoned chalice for car companies.”
Robert Koehler, KBS World Radio News.