Reports of tech giant Apple gearing up to launch an electric car are going on round for quite some time. It is said that the project is aimed to get completed as soon as 2024.
Adding fuel to these reports, Korean media now claimed that to manufacture electric vehicles, Apple has reportedly joined hands with South Korean multinational automotive manufacturer Hyundai.
It has been widely reported that Hyundai Motor Company and Apple will ink a partnership deal to manufacture self-driving electric cars by March, while the production of the beta version of the vehicle is expected to be out by 2022.
According to the information, the car which is believed to be named 'Project Titan' as a collaboration between Hyundai and Apple will be aimed at manufacturing 100,000 cars in 2024.
Eventually, the count would be reaching 400,000 per year, from 2025 based on the demand from the customers.
Once the Hyundai-Apple electric cars are out in the market, it has to face tough competition with Elon Musk's Tesla which is already leading the electric vehicle segment.
Despite the pandemic outbreak, Tesla manufactured and delivered 499,550 vehicles during 2020. The company claimed that it fell 450 cars short of Elon Musk's target.