Apple Inc. (NASDAQ: AAPL), HYUNDAI MOTOR REG S (HYMTF) – Apple may be looking at more partnerships in EV Quest: Analyst

With the South Korean car giant Hyundai Motor Company DDR (OTC: HYMTF) confirms that it is in conversation with Apple Inc. (NASDAQ: AAPL) Regarding an Electric Vehicle Manufacturing Partnership, a Wedbush analyst still sees many bonds on the horizon.

The Apple Analyst: Daniel Ives has a better performance rating and a $ 160 price target for Apple shares.

The Apple dissertation: Apple is probably in the early stages of talks with Hyundai, Ives said. The technology giant can look to a handful of strategic partnerships and collaborations worldwide, with existing automakers on the EV front.

Related link: Apple’s self-driving car is at least five years away: reported

The Hyundai news is in line with Ives’ earlier expectation that Apple will finally announce an EV strategic partnership in 2021, which will lay the foundation for entering the emerging EV space.

A potentially larger strategic partnership with an established EV player such as Tesla Inc. (NASDAQ: TSLA) or Volkswagen AG (OTC: VWAGY) would be a golden partnership for the next decade taking advantage of this EV opportunity, the analyst said.

The chance of strategic partnerships with people like a Tesla, Volkswagen, Hyundai or other car manufacturers in China like XPeng Inc. – ADR (NYSE: XPEV) and Nio Inc. – ADR (NYSE: NIO) is in the 70% + range for the next few years, Ives estimates.