We previously reported that Apple could be working with TSMC to create an exclusive chip for its first vehicle. Now the well-known analyst Ming-Chi Kuo has revealed more information about the Apple Car project, which should use a Hyundai platform and even have a collaboration with General Motors.
This Hyundai battery platform was announced in December 2020 and has a capacity for up to 2 engines, 5-link rear suspension, integrated drive axle, batteries that can provide up to 500km more travel with support for fast charging to fill 80% of them in just 18 minutes.
In a note to TF Securities investors, Ming-Chi Kuo says:
Apple’s deep collaboration with current automakers (Hyundai Group, GM and PSA) who have extensive experience in development, production and qualification will significantly reduce the development time of the Apple Car and create a time advantage for the market. We believe that Apple will take advantage of the capabilities of today’s automakers and focus on autonomous hardware and software, semiconductors, battery-related technologies, form factors and internal space designs, innovative user experience and integration with Apple’s existing ecosystem.
Check out Hyundai’s presentation on the E-GMP:
In addition, a car with the E-GMP can reach an acceleration from 0 to 100km / h in just 3.5 seconds reaching up to 260km / h.
The analyst predicts that Hyundai components should really be part of the Apple Car project and the production line in the U.S. should be made up of its affiliate, Kia. Another important point is the launch date, which was scheduled for 2025 according to him, but the schedule may become “tight” for Apple.
We anticipate that Apple will launch the Apple Car in 2025, at the very least. The new iPhone takes about 18 to 24 months from the initial specification definition to mass production based on experience. Given the longer development time, higher validation requirements, more complicated supply chain management and very different sales / after-sales service channels for automobiles, we believe that Apple, which has no experience in building cars, already is on a tight schedule if you want to launch the Apple Car in 2025.
Thus, Kuo believes that Foxconn should not have stakes in components of the Apple Car, which must be a luxury electric vehicle or at least at a much higher cost than a standard model.
It is worth remembering that Hyundai has already admitted that it was negotiating the production of electric vehicles with Apple, but immediately denied it, as its executives were divided on the idea of working with the Cupertino company. There is also a rumor that the vehicle could only be launched in 2028.