A new potential Apple Car partner has entered the chat.
What you need to know
- Wedbush analyst Daniel Ives says Apple could announce its Apple Car partner in the first half of 2021.
- The analyst believes that Hyundai and Volkswagon are the most likely candidates.
As reported by AppleInsider, investment firm Wedbush believes that Apple will announce a partnership with an automaker for Apple Car, in the first half of 2021. Analyst Daniel Ives says that Apple getting into the EV market is now a matter of “when not if” and that Hyundai may still in fact be the company that Apple partners with.
“While the timing of an EV partnership with the likes of Hyundai, or another automaker, remains a key focus of the Street and EV industry over the coming months we assign a 85%+ chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months.”
Ives believes that now would be the right time for a company like Apple to make an electric vehicle, saying that “the EV industry is entering a golden age.”
“Taking a step back, the EV industry is entering a golden age as we believe the broader consumer demand trends, innovative battery technology, regulatory EV incentives/tax credits around the globe, and sleeker/affordable models are creating a perfect storm of the demand for sector.”
Since Hyundai/Kia have come out with a statement that they are no longer in talks with Apple its electric car, the analyst has also tapped Volkswagon as a potential partner.
“In a nutshell, Apple with the right partner (Hyundai and VW Top 2 choices) would be a major force in the EV industry and could disrupt market share from the likes of Tesla, GM, Ford if the company is able to get the Apple Car on the road by 2024.”
Ive’s 2024 release date is possible, but the news around when exactly Apple’s electric car will see a release date ranges wildly depending on the analyst you talk to right now. It is also interesting that Ives believes the partnership will be made public since Apple has historically always kept its upcoming products under wraps until they had the final version to unveil.
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