LG and Apple are said to be close to finalizing a deal.
If the Apple Car file has been more low-key lately, Apple’s electric car project is still on track. Moreover, according to the latest information from The Korea Times, Apple is said to be on the verge of signing a major contract with LG Magna e-Powertrain, the joint venture of LG and Magna, a company specializing in automotive equipment.
Apple would also be the main customer of this new joint venture, but the Apple Car would indeed be a project specific to the Cupertino company. Rumor has it that Apple is teaming up with an automaker as part of a partnership, but it now seems more plausible that the American company will develop its own full-fledged vehicle. Apple’s partners would thus play only a simple role in the Apple Car supply chain, like Foxconn for the iPhone.
LG and Magna could supply several parts to Apple, including batteries and motors. Details of the deal between the various companies are still being negotiated, but a deal is reportedly close.
Rumor has it that Apple could unveil its first electric vehicle as early as 2024 if all goes well. The Cupertino company has been working on Project Titan for many, many years now – the code name for the electric car project. For a while there was a question of a partnership with Kia et Huyndai, but the latter was ultimately unsuccessful. Tim Cook recently mentioned the possibility of an Apple Car during an interview.
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