Apple may Announce Apple Car Partners in the First Half of this Year

Investment bank Wedbush predicts that Apple will announce in the first half of 2021 that it will cooperate with electric car manufacturers to launch Apple Car, with Volkswagen and Hyundai Motors being its two preferred companies.

In a note to investors, Wedbush analyst Daniel Ives said that Apple’s entry into the electric car market is currently a question of “when, not if”. He also explained how Apple’s electric cars designed by Apple will disrupt the market if Apple cooperates with existing automakers.

Ives said that the timing of establishing electric vehicle partnerships with Hyundai Motors or other automakers is still the focus of attention in the next few months. He believes that Apple has an 85% chance of announcing the establishment in the next 3 to 6 months. Electric vehicle partnership.

He added that it is now an excellent time for Apple to enter the electric vehicle industry. Prior to this, US President Biden announced the launch of its “Green New Deal”. General Motors  and Ford have both begun to actively promote their own electric vehicles. plan.

Ives pointed out that Tesla  is still the heavyweight leader in the electric vehicle industry, but he said that the entire market is entering an upward trend.

“The electric vehicle industry is entering a golden age because we believe that broader consumer demand trends, innovative battery technologies, globally regulated electric vehicle incentives/tax credits, and more fashionable and affordable models are creating a perfect storm of demand.” , Ives said.

Although Apple’s negotiations with Hyundai Motor seem to be over, Ives said that the automaker’s E-GMP platform can be designed through distribution, modularity and robotic assembly, which is very suitable for Apple.

Ives said that if the negotiations with Hyundai are not resumed, then another candidate car company may be Volkswagen, because the company’s MEB electric vehicle platform can easily integrate new self-driving car models.

Ives concluded that, in short, Apple and the right partners (Hyundai and Volkswagen are preferred) will become the main force in the electric vehicle industry. If Apple can launch Apple Car in 2024, it may shake up the market share of Tesla, GM, Ford and other companies.