The saga surrounding Apple’s electric vehicle (EVs) ambitions continues.
In a new research note from reliable TF Securities analyst Ming-chi Kuo that was first reported by AppleInsider, Apple and Hyundai are reportedly working together on an electric car project. This corroborates reports that have appeared over the last few weeks, including an instance where Hyundai actually mistakenly discussed the partnership during a recent earnings call.
Kuo says that Apple’s first vehicle will be based on Hyundai’s E-GMP platform designed for EVs. Hyundai announced the platform last year and claims that E-GMP vehicles are capable of 500KM (310miles) of range on a single charge.
Vehicles built with the E-GMP infrastructure can also reach 80 percent battery capacity in just 18 minutes through fast charging. Hyundai is positioning its E-GMP platform as laying the groundwork for all of its future electric vehicles.
According to Kuo, while the first Apple car will be produced through a partnership with Hyundai, GM and PSA may also work with the company. Apple is reportedly “taking the lead in component design and production,” while Kia, a subsidiary of the automaker, will produce the vehicles in the United States.
Reuters recently reported that Hyundai’s leadership is “divided” by the possibility of working with Apple. Similar to previous reports, Kuo says that Apple’s fist car likely won’t release until 2025.