Apple Inc.’s electric car plans may be about to get a boost as the company reportedly is close to signing at deal with Hyundai Motor Co.

The report, from Korea IT News and picked up by Reuters today, said the partnership deal on electric cars will be signed by March, with production slated to start about 2024 in the U.S. The report comes after Hyundai confirmed on Friday that it was in early talks with Apple to launch a self-driving electric car in 2027.

Under the potential deal, Hyundai and Apple would collaborate not only on the production of electric vehicles but also batteries. Previous reports have suggested that Apple is secretly developing a lithium iron phosphate battery, a new battery technology said to be cheaper and more efficient than traditional battery cells that use nickel manganese cobalt.

Where a tie-up with Hyundai becomes interesting is that the company, under the proposed deal, would also assist Apple with the development of the so-called Apple Car, including the application of its existing technology and development facilities. The partnership would give Apple’s plans an immediate boost by giving it access to a proven car manufacturer with the ability to design and develop a vehicle whereas Apple alone would be starting from scratch.

The appeal for Hyundai in a potential deal is the ability to deliver a next-generation autonomous electric vehicle. “If the deal between Apple and Hyundai, which would be considered Tesla competitors, succeeds, it is expected that Hyundai Motor Group will quickly become the leader in the electric car market in terms of both productivity and technology,” Hunkyung News wrote.

That Apple is seemingly moving ahead with its previously on again, off again Apple Car project would seem to be a given at this point, but the company has changed its mind in the past. Apple’s varying efforts to build an autonomous electric vehicle date back to 2014. With a change of direction in 2016 to pursuing self-driving technology that could be applied to other cars, the Apple car project appeared to be dead in the water as hundreds of people in the unit were laid off. Apple later laid off a further 190 staff from the self-driving car project in February 2019.

Photo: Raysonho/Wikipeida Commons