Despite being the 5th largest carmaker in the world, Hyundai only has a 5% share of the current electric vehicle market, selling 100,000 EVs in 2020. They aim to bump these sales up by 60% for 2021 and, more excitingly, are in early talks with Apple about a potential collaboration about building an electric vehicle with self-driving capabilities. Hyundai were quick to backtrack on this statement, first rephrasing to talks with a number of companies including Apple, then omitting Apple’s name entirely. This is quite possibly a consequence of Apple’s tendency towards secrecy with future products. Apple’s discretion could benefit any punters looking towards Hyundai in the future, given even the prospect of talks between the two caused a sharp rise in Hyundai’s valuation in early January when the talks were mistakenly announced so any official confirmation would likely do the same. Caution could be advised though as Apple’s secrecy cuts both ways. Hyundai mentioning Apple’s name in an official statement may risk future progress in a prospective partnership if Apple takes this as a sign of untrustworthiness.

Regardless of whether the alleged talks lead to any partnership, this bodes well for Hyundai’s EV prospects that Apple might be involved in these talks. Given their reputation, Apple would be a highly desired partner for many manufacturers in the automotive industry, although details on Apple’s autonomous car project (codenamed “Titan”) have been thin on the ground since initial 2014 rumours, making any conclusions speculative in nature.