SEOUL — Hyundai Motor Co. and Apple Inc. plan to signal a partnership deal on autonomous EVs by March and begin manufacturing round 2024 within the U.S., a Korean newspaper reported on Sunday.

The report by Korea IT Information follows an announcement on Friday from Hyundai Motor that it was in early talks with Apple after one other native media outlet stated the businesses aimed to launch a self-driving EV in 2027, sending Hyundai shares up practically 20 %.

Hyundai Motor declined to touch upon the report on Sunday, and reiterated Friday’s feedback that it has obtained requests for potential cooperation from varied firms on creating autonomous EVs.

Apple had no speedy remark.

An up to date model of the IT information report eliminated particulars, together with manufacturing location and capability and the timeframe for signing the settlement and launching the pilot autos.

The earlier model stated the businesses deliberate to construct the vehicles at Kia Motors’ manufacturing facility in Georgia, or make investments collectively in a brand new manufacturing facility within the U.S. to provide 100,000 autos round 2024. The complete annual capability of the proposed plant could be 400,000 autos.

Kia Motors is an affiliate of Hyundai Motor.

The report additionally stated Hyundai and Apple deliberate to launch a “beta model” of the Apple vehicles subsequent yr.

Reuters reported final month that Apple was shifting ahead with autonomous automobile know-how and aimed to provide a passenger automobile that would embody its personal breakthrough battery know-how as early as 2024.