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Who are the candidates to build the Apple car

The work of Apple Inc. on car construction brought to the fore several potential manufacturing partners capable of creating an electric self-driving vehicle for the technology giant.

The secret project has gained momentum in recent months, adding many former executives to Tesla Inc., receiving oversight from Apple’s top CEO for artificial intelligence. The initiative, known as Apple’s Project Titan, is attracting strong interest because of its potential to influence the automotive industry and supply chains, similar to the iPhone it made in the smartphone market.

If and when Apple commits to build a car, it is likely to look for a number of partners – including a major one to assemble the car and many others to supply key components. The following companies – whose representatives declined to comment – are possible candidates:

Foxconn

Foxconn Technology Group already has a relationship with Apple. For more than a decade, it has been the largest manufacturing partner of the American company, assembling most of the iPhones and most of the Mac and iPad.

In October, Foxconn, whose core subsidiary is Hon Hai Precision Industry Co., introduced its first electric vehicle chassis and software platform to help automakers bring models to market faster. It also plans to launch a semiconductor battery by 2024. In January, Foxconn signed a manufacturing deal with Chinese EV startup Byton Ltd. in order to start mass production of its M-Byte model by the first quarter of 2022.

Magna

Magna, based in Ontario, Canada, is the world’s third-largest car supplier in terms of sales and has a contract manufacturing operation with years of experience in manufacturing entire car models for various car brands.

Magna produces everything from chassis and car seats to sensors and driver assistance software. Automobile manufacturers, including BMW AG and Jaguar Land Rover, have hired the Magna Steyr division and outsourced production to their factory in Graz, Austria. Magna also offers its engineering and manufacturing services to EV start-ups. In December, Magna invested about $ 450 million in a joint venture with Korea’s LG Electronics Inc. to make EV drives. It is also expanding its production footprint in China, the largest electric vehicle market, by building ArcFox Alpha-T for Beijing Automotive Group Co. – the first vehicle to be assembled outside Europe. the two were negotiating to build the Apple car when the iPhone maker first took that path about five years ago.

Hyundai or Kia

Hyundai Motor Co. and its related Kia Motors Corp. attracted the most attention so far this year, thanks in part to Hyundai, which initially confirmed reports in Korea last month that it had been in discussions with Apple. But the carmaker quickly stepped back and recently reiterated that it was not in negotiations.

Both Hyundai and Kia have plants in the United States, Alabama and Georgia. Their dedicated EV platform will provide a driving range of over 500 kilometers (311 miles) and will be able to recharge car batteries up to 80% in 18 minutes. They plan to introduce a combined 23 new EV models and sell 1 million units worldwide by 2025.

Nissan

Although seen as a “long shot”, Nissan Motor Co. presents several table elements that can be useful for Apple.

Nissan already has a common EV platform developed with French partner Renault SA, which will be used for the debut of its compact SUV Ariya later this year. Asked if the Japanese company would like to produce cars for Apple, CEO Makoto Uchida told a news conference that Nissan “has the DNA to do things that others will not do.” It could also benefit from access to Apple technology. After pursuing a volume strategy at all costs that has made a profit, Nissan needs to attract higher-paying customers largely with the technology in its cars.

Stellantis

One of the factors in determining the suitability of a partner for Apple may be the availability of production capacity. This may point to European carmakers such as Stellantis NV, which has been hit by declining sales in the region and has spare space in some plants.

Stellantis is under pressure to find synergies since forming last month through the merger of PSA Group and Fiat Chrysler. CEO Carlos Tavares told a news conference on January 19 that Stellantis was open to working with Apple or another technology company for electric vehicles, “as long as it did not create any technological dependence” that would jeopardize the carmaker’s future. President John Elkan said in 2016 that the automotive industry should work with “new entrants” such as Google and Apple, rather than trying to compete with them.


 Junior Trader Mert Mustafa

Varchev Absolute Trader

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