An Apple car could ship in 2025, and will be “positioned as a very high-end” model in terms of pricing, claims TF International Securities analyst Ming-Chi Kuo.
Kuo doesn’t give a dollar figure. But he writes that the sticker price, as well as the cost of Apple car components, will come in much higher than a those for a regular electric vehicle.
In a note to clients seen by Cult of Mac, the respected analyst also writes that if Apple’s rumored “partnership with Hyundai goes well,” the tech giant could come to similar arrangements with General Motors. Deals with the makers of Peugeot, Citroën and Vauxhall vehicles could follow.
In terms of the possible 2025 timeline, Kuo writes calls it a “tight schedule” due to the challenges of developing the vehicle. He notes that the typical electric vehicle contains 40 to 50 times more components than a smartphone.
That may explain why Apple plans to partner with an established automaker. The longer Apple waits to move into this terrain, the bigger challenge the company will face. It therefore makes sense to tap a partner with plenty of experience in the auto industry.
A reliable Apple analyst
Kuo boasts a strong track record when it comes to Apple news. According to the website AppleTrack, Kuo’s accuracy level sits at 78.2%, based on 142 rumors.
In his latest note, Kuo also adds a few more clarifications to the current Apple/Hyundai story. He thinks the Apple car chassis will use Hyundai’s E-GMP platform. Announced at the end of last year, the E-GMP’s compact power electric system consists of a motor, EV transmission and inverter. These integrate into a single, compact module.
Kuo suggests that Hyundai Mobis, which Wikipedia describes as “the ‘parts and service’ arm for the South Korean automakers Hyundai Motor Company, Genesis Motors and Kia Motors,” will be in charge of design and production for some components. Meanwhile, Kia will provide the U.S. production line to build the Apple car.
However, a recent report suggested that Hyundai is having second thoughts about the potential deal. Some Hyundai execs reportedly worry about the automaker being perceived as an Apple manufacturer, rather than its own company.
Finally, Kuo discusses the possibility of Foxconn building the Apple car. According to a recent report, Chinese manufacturer Foxconn is “strengthening its automotive capabilities,” which could make it a good partner for Apple on this project. Foxconn already builds a number of products for Apple, including the iPhone. But Kuo thinks Foxconn “isn’t currently the best partner” for Apple car development. That could change in the future, but Foxconn is not currently in a position to carry out mass EV shipments.