Hyundai negotiating with Apple to manufacture its self-driving electric car

Apple's inclination to work with an established auto maker for the project has already been affirmed by multiple reports. However, no specific name had been thrown around, until Hyundai's own admission.

The Korean car maker, however, backtracked on its claim of negotiating with Apple after making several revisions to its original statement.

It is unclear if Apple itself prompted Hyundai to backtrack.

While several rumors pegged a launch as early as 2021, other more credible reports maintained a realistic 2027 window for the Apple Car. The Korea Economic Daily report also reaffirms the same.

Another report indicates that Apple is working on new battery technology that could significantly improve the range of electric cars. Hyundai had claimed to be in talks for manufacturing batteries for Apple.

On a related note, Tesla CEO Elon Musk recently recalled the dark days during Tesla's journey, when he had approached Apple boss Tim Cook with an offer to sell Tesla at a tenth of its current value.

Cook declined the offer, and Apple has since fallen behind despite being involved with electric cars since 2014.

Tesla, meanwhile, continues to enrich its deep learning model with each passing year.

The success of Apple's rumored battery technology is critical for the company's electric vehicle to stand a chance against established rivals. The fabled "monocell" batteries are speculated to improve energy density while running cooler than traditional Lithium-ion batteries.

If this turns out to be an unfounded rumor, analysts predict that Apple could be unable to bridge the technological gap rivals have over it.