[imagesource: Apple]

If you’ve been paying attention over the past few days, you may have noticed an influx of news about the ‘Apple Car’.

If you’ve been passing it by, buckle up, because the rumours are only going to flow faster and faster from here on out.

Everyone seems to want in on the speculative action with predictions as to how the car will be manufactured, and who will score a partnership with Apple to produce it.

The plan is to create a driverless electric car, which will go into production in 2024.

Let’s round up a few of the rumours.

CNBC says that Apple is close to finalising a deal with Hyundai-Kia, according to one source familiar with Hyundai-Kia strategy.

Other sources say no official agreement has yet been reached between the two companies. They also stress that Apple may decide to partner with another automaker separately or alongside Hyundai.

Apple allegedly wants to build the Apple Car in America with an established automaker who is willing to allow it to control the software and hardware that will go into the vehicle.

For Apple, the decision to produce its own addition to the electric car market opens up the potential to tap an industry currently valued at $10 trillion.

“Smartphones are a $500bn annual TAM. Apple has about one-third of this market. The mobility market is $10 trillion. So Apple would only need a 2% share of this market to be the size of their iPhone business,” Morgan Stanley analyst Katie Huberty wrote.

While no one really knows what the car would look like, those supposedly familiar with the plans have said that there are some notable features in the mix.

“The first Apple Cars will not be designed to have a driver,” said one source with knowledge of the current plan.

“These will be autonomous, electric vehicles designed to operate without a driver and focused on the last mile.”  That could mean Apple cars, at least initially, could focus on package food delivery operations and firms incorporating robotaxis.

Automotive News is also under the impression that Apple and Hyundai are in negotiations, saying that the tech giant is looking to invest $3,6 billion as part of the collaboration.

MacRumors spoke to noted Apple analyst Ming-Chi Kuo who says that the deal is going ahead.

That would put them in direct competition with Tesla, which is working self-driving features in its cars.

Spokespersons for both Hyundai and Apple refused to comment on any of the rumours.

I’ll be waiting to hear more from Apple, before drawing any conclusions.

[sources:cnbc]