According to the latest report on the Apple Car front, the Cupertino tech giant is very close to signing a partnership with Canadian manufacturer giant Magna International and South Korea’s LG. The three companies will combine their manpower to bring the Apple Car to life.
Currently, Apple is hoping to unveil its electric vehicle by 2025. As per the report, Apple will use an electric powertrain provided by LG designed with Magna, and the Canadian manufacturer will oversee the production of the vehicle. If all the parties agree, then the deal should become public later this year.
LG and Magna partnering up to close in on Apple Car production contract
Earlier this year, we saw rumors where Hyundai and Kia were very much interested in manufacturing Apple Car. However, both the companies squashed the rumors by saying that the companies are not in talks with Apple. The latest report on the matter comes from The Korean Times, according to which unnamed sources familiar with the matter have stated that LG Magna e-Powertrain partnership is discussing the final details.
Because LG Group affiliates including LG Display, LG Chem, LG Energy Solution and LG Innotek are already included in Apple’s parts supple chain, Apple does not have to worry about any supply chain issues. These LG affiliate are qualified to gurantee production yields and faster delivery of parts needed for Apple EVs.
It is strongly believed that Apple Car would be branded solely as Apple’s production while the other partner companies will act as links in the supply chain. LG and Magna do not have a notable public-facing relationship in the automobile industry, which makes it most likely that both the companies will follow Apple’s lead and let it get the glory. Magna and LG supply many parts like motors, battery packs, and more to automobile companies like Ford, BMW, Tesla, and General Motors.
During an interview with Kara Swisher from The New York Times, CEO Tim Cook spoke about Tesla and praised them for their industry leadership. Cook also answered questions about the electric vehicle and mentioned that autonomous cars are sort of like robots and there is a lot of work that can be done in that field.
Apple Car has to be a combination of battery breakthroughs, ingenious hardware innovation, and software integration, for it to be popular amongst consumers. Until Apple officially announces anything, take all reports with a grain of salt.