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Apple has been secretive with its electric vehicle ambitions.
Agency France-Presse / Getty Images
Apple’s search for a carmaker to join the technology giant’s project to build autonomous vehicles continues, after reports that discussions have dissolved
Nissan.
Shares of the Japanese car giant fell about 3% in Tokyo trade.
apple
the shares were not traded Monday in the United States due to the Presidents ’holiday.
The story behind it. There has been speculation about Apple’s vehicle ambitions since 2015, when the Wall Street Journal reported that it was preparing to take over Tesla. The iPhone maker has been top secret about its plans for the “Project Titan,” confirmed in 2016, which has evolved to include autonomous or autonomous electric vehicles.
Analysts suspect the Silicon Valley giant will partner with an existing automaker to break into the capital-intensive vehicle industry.
On February 8, Korean carmakers
Hyundai
i
That
He said they were no longer in talks with Apple over a stand-alone electric vehicle project, following widespread press speculation and analysts that a deal was near. This news had dropped Hyundai shares by more than 6% and Kia shares by 15%, eliminating the combined market value of $ 8.5 billion from the two companies.
The next day, Makoto Uchida, CEO of Nissan, was pressured into an earring call about whether Apple had been contacted for a collaboration with the company. Uchida avoided addressing Apple directly, but indicated that Nissan could partner with technology companies to build the next generation of cars.
Also read:An Apple car could upset both the auto industry and the technology of the iPhone Upended. This is what you need to know.
What’s new. Nissan confirmed Monday that it was not in talks with Apple, but said it was open to exploring partnerships and partnerships to accelerate the vehicle industry.
The Financial Times had previously reported that there were discussions between the two groups about a partnership, but that talks had stalled over possible marks. According to the report, the discussions did not reach senior management levels.
A source close to Nissan told Agence France-Presse that “when you make a product with the Apple brand, you give your soul and your profit margins to Apple,” and that Nissan was not interested in giving Apple the best it offers “.
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Looking ahead. It makes sense for Apple to partner with a strong automaker to make their dreams come true with electric vehicles. With Nissan crossed, following Hyundai and Kia, that list is shrinking.
On Feb. 7, just before Hyundai and Kia confirmed they were unrelated to Apple, veteran technology analyst Daniel Ives of investment firm Wedbush said it was a matter of “when not” if Apple entered the vehicle race. electric. Ives placed 85% of the chances that the technology giant would announce a relevant partnership or collaboration in the next three or six months.
Ives pointed to Hyundai as the most likely choice
Volkswagen Group
—Which also manufactures Audi and
Porsche
—As the next best bet. With Hyundai out, investors should keep an eye on the German giant. The analyst also floated Tesla and
Ford
as potential candidates.
De Barron Apple and Nissan have been contacted for feedback.