on the crypto
Apple's search for an auto maker to join the tech giant's project to build autonomous vehicles continues, following rumors that the deal with Nissan would have ended unsuccessfully.
Apple dreams of the automotive sector
There is speculation about Apple's ambitions (Apple shares - ticker AAPL) in the automotive industry since 2015, when the Wall Street Journal published the news that Apple was preparing to compete with Tesla.
The iPhone maker has been very reserved about his plans for “Project Titan,” confirmed in 2016, a project that includes self-driving or self-driving electric vehicles. Analysts suspect the Silicon Valley giant would partner with an existing auto maker to enter the capital-intensive auto industry.
On February 8, Korean automakers Hyundai and Kia said they were no longer in talks with Apple about an autonomous electric vehicle project, following widespread speculation from the press and analysts that a deal was close.
The next day, Nissan CEO Makoto Uchida was pressured by the media to find out if the company had been contacted by Apple for a collaboration. Uchida did not speak explicitly about Apple, but indicated that Nissan could partner with other tech companies to build the next generation of cars.
The latest news
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 development of the auto industry.
The Financial Times had previously reported that there were discussions between the two groups about a partnership, but that talks had stalled on the possible branding. 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 giving Apple the best it can. to offer."
Looking forward
Going forward, it makes sense that Apple will partner with a strong automobile manufacturer to make its electric vehicle dreams come true. With Nissan excluded, after Hyundai and Kia, the list is shrinking.
On February 7, just before Hyundai and Kia confirmed they were not involved with Apple, longtime tech analyst Daniel Ives of investment firm Wedbush said it was a question of "when not if" Apple will enter the EV race.
Ives says there is an 85% chance the tech giant would announce a relevant partnership or collaboration within the next three to six months. Ives had singled out Hyundai as the most likely choice, with Volkswagen Group, Audi and Porsche being second-rate bets. With Hyundai out, investors should keep an eye on the German giant. The analyst also spoke of Tesla and Ford as possible candidates.
