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Apple has been secretive about its ambitions for electric vehicles.
Agence France-Presse / Getty Images
Apple’s search for a carmaker to join the project of the technology giant to build autonomous vehicles continues, following reports with which the talks were dissolved
Nissan.
The shares of the Japanese car giant fell by almost 3% in trading in Tokyo.
Apple
the shares were not traded in the US on Monday due to the celebration of Presidents’ Day.
The story behind it. There has been speculation about Apple’s ambitions for vehicles since 2015, when The Wall Street Journal reported that it was preparing to take Tesla. The iPhone manufacturer has been extremely secretive about its plans for the “Titan Project”, confirmed in 2016, which has evolved to include autonomous or autonomous electric vehicles.
Analysts suspected that the Silicon Valley giant would have partnered with an existing carmaker to enter the capital-intensive vehicle industry.
On February 8, Korean carmakers
Hyundai
and
That
they said they were no longer in talks with Apple for an autonomous electric vehicle project, following widespread speculation from the media and analysts that an agreement was imminent. This news caused Hyundai shares to fall by more than 6% and Kia shares to fall by 15% – eliminating the combined market value of $ 8.5 billion from the two companies.
The next day, Nissan CEO Makoto Uchida was hit in an earring call if the company was approached by Apple about a collaboration. Uchida avoided addressing Apple directly, but indicated that Nissan could partner with technology companies to build the next generation of cars.
Read also:An Apple car could disrupt the auto industry as much as upended iPhone technology. Here’s what you need to know.
What’s new. Nissan confirmed on Monday that it is not in talks with Apple, but said it is open to exploring collaborations and partnerships to accelerate the vehicle industry.
The Financial Times had earlier reported that there had been discussions between the two groups about a partnership, but that talks had stopped about possible brandings. According to the report, the talks did not reach senior management levels.
A source close to Nissan told Agence France-Presse that “when you make a product under the Apple brand, you give your soul – and your profit margins – to Apple” and that Nissan “was not interested in offering Apple the best deals . “
Addition:Apple iCar is a terrible idea. Here’s why.
Looking ahead. It is logical that Apple would have partnered with a powerful car manufacturer to realize the dreams of electric vehicles. With the Nissan crossed, followed by Hyundai and Kia, the list narrows.
On Feb. 7, just before Hyundai and Kia confirmed they were not involved in Apple, veteran technology analyst Daniel Ives of investment firm Wedbush said it was a matter of “when not if” Apple entered the electric vehicle race. . Ives raised the chances of the technology giant to announce a relevant partnership or collaboration in the next three to six months.
Ives chose Hyundai as the most likely choice, with
Volkswagen Group
“Which does Audi and.”
Porsche
– as the next best bet. With Hyundai out, investors should be keeping an eye on the German giant. The analyst also floated Tesla and
I’m seeing
as possible candidates.
Barron’s contacted Apple and Nissan for comments.