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Hyundai confirms that Apple is building an EV, but it could be released around 2027

Credit: Hyundai Motors, Wikimedia Commons

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It appears that Apple is taking some preliminary steps for its electric vehicle project. As per recent reports from a South Korean publication, Hyundai has confirmed that it is in talks with Apple over the potential development of an all-electric car. 

According to Korea Economic Daily, Apple and Hyundai Motor’s deal would involve the development of an electric car as well as rechargeable batteries that are used in EVs. Hyundai is reportedly reviewing the proposal. If the project pushes through, the report noted that the Apple Car could be released around 2027. 

Hyundai, for its part, was quick to emphasize that nothing final has been decided yet. This was highlighted by a statement from a representative of the South Korean automaker to American news agency CNBC. “We understand that Apple is in discussion with a variety of global automakers, including Hyundai Motor. As the discussion is at its early stage, nothing has been decided,” the representative said. 

The automaker also released a later statement noting that it is receiving requests for cooperation from a range of companies. Similar to the automaker’s comment to the US-based news outlet, Hyundai’s updated statement emphasized that no final decisions have been made yet. “We’ve been receiving requests of potential cooperation from diverse companies regarding development of autonomous driving EVs, but no decisions have been made as discussions are in early stage,” the automaker noted. 

Apple’s electric vehicle project has been rumored for a long time. Initially making waves about six years ago, the initiative was reportedly scaled down as the tech giant adopted a more conservative approach in its products. However, a report last month from Reuters, citing people reportedly familiar with the matter, stated that Apple was looking to produce a passenger vehicle by 2024 with a breakthrough “monocell” battery. 

This report was met with much excitement from the tech and EV sector, though electric vehicle veteran and Tesla CEO Elo Musk remarked that a “monocell” battery is electrochemically impossible since its maximum voltage would be too low. Ming-Chi Kuo, widely deemed as the most accurate Apple analyst in the market, also stated that it would not be surprising if the tech giant’s electric vehicle program launches around 2028 instead, far later than the estimates shared by Reuters‘ sources. 

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Elon Musk

Elon Musk weather update tips Tesla Roadster speculation into Plaid Mode

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elon musk
Credit: Tesla

Tesla CEO Elon Musk certainly tipped off some details of the Tesla Roadster event with a broadening of information regarding the company’s decision to delay the unveiling for two weeks.

For years, people have speculated about what the Roadster will be capable of. While there have been plenty of things said about what it *could* do, we have not seen or been told by Tesla what it will actually be capable of.

However, over the past few days, Tesla’s weather updates have truly pushed the speculation into Plaid Mode, basically all but confirming the car will have some sort of aerial capability — whether that would be hovering or fully flying remains to be seen — but it definitely seems that it will be able to leave the ground intentionally.

“Because this event can only be held outdoors…”

Tesla posted on Monday that it would delay the Roadster event until October 15, and it indicated that it had to do this because the event “can only be held outdoors.”

With the potential SpaceX collaboration to develop cold-gas thrusters that will help the vehicle go airborne, doing this indoors is probably not a safe, or even plausible, possibility.

FAA Airspace Restriction

The FAA gave Tesla a Temporary Flight Restriction (TFR) for 10,000 feet above ground level, much higher than the typical 2,000-foot restrictions that are usually placed at SpaceX’s McGregor, Texas site.

Tesla Roadster event requires restricted airspace, and the FAA obliges

Some have said that this massive increase is due to Tesla’s need to restrict unauthorized drone use for spying on the event.

Elon Admits High Winds

“Due to high winds, the new Roadster demo is postponed by 2 weeks,” Musk said in a post on X yesterday.

A reply reading, “What’s strong wind got to do with a car demo with four grounded wheels?” was directly below Musk’s post, satirically and sarcastically probing for more details.

All signs are pointing toward an aerial demonstration for the Roadster.

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Tesla snags $30B in fresh credit lines for expanding its biggest projects

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Credit: Grok

Tesla has secured $30 billion in fresh credit lines from Citibank and Wells Fargo in an effort to scale its biggest current projects.

Tesla agreed to a $20 billion three-year delayed-draw term loan facility from Citibank, it announced on Tuesday. Additionally, it signed a five-year, $8 billion revolving credit facility and a $2 billion, 364-day term credit facility with Wells Fargo.

In a filing with the Securities and Exchange Commission (SEC), that it “may draw” from the $20 billion delayed-draw term “from time to time” and “no more than ten times during the 18 months following the closing date.” This loan matures on September 29, 2029.

The five-year revolving facility from Wells Fargo will also be accessed by Tesla “from time to time,” and will become due and payable on September 29, 2031. Tesla can request two separate one-year extensions.

On the $2 billion, 364-day revolving loan, it becomes due and payable on September 28, 2027. Tesla can also increase its additional commitments to an additional $4 billion across the Revolving Facilities. This would increase the total facilities to $14 billion. Tesla said it does not plan to utilize any of these loans in 2026.

Tesla plans to utilize the money to help prop up its ambitions to scale its biggest products, each of which is either in early launch phases or still in development. Of course, we’re talking about Cybercab and Semi, which have launched, and Optimus, which is still under heavy development and working toward initial release.

All three Tesla products have one thing in common: they’ve all required Tesla to build new manufacturing lines for them.

For the Semi, Tesla built a brand new factory in Sparks, Nevada, adjacent to the Tesla Gigafactory. For Optimus, Tesla sunset Model S and X production at the Fremont Factory, which brought an end to the two flagship models, thus creating manufacturing space for the humanoid robot. Finally, Cybercab is being built at Gigafactory Texas and officially entered production earlier this year.

Tesla Cybercab fleet doubles to well over 100 units

The cash will help Tesla bolster its finances for the continuing development of these products. Tesla said that it forecasts its CapEx to be over $25 billion, up from just over $8.5 billion last year. These loans surely help with that spending.

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Elon Musk

Elon Musk and Trump are closer than ever, and Tesla could be the big winner

Elon Musk sat beside Trump as AI leaders signed a voluntary White House safety accord.

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Elon Musk had the seat right next to President Donald Trump on Tuesday as the White House hosted the leaders of America’s biggest artificial intelligence companies for a lunch that ended with a voluntary industry accord on AI safety.

A seating chart Trump posted on Truth Social placed Musk at the president’s left in the East Room, with Nvidia CEO Jensen Huang on his right, according to an Associated Press reporter. Anthropic CEO Dario Amodei, OpenAI President Greg Brockman, Meta’s Mark Zuckerberg, Google’s Sundar Pichai, Microsoft’s Satya Nadella and Amazon founder Jeff Bezos also attended, along with Vice President JD Vance and House Speaker Mike Johnson.

After the lunch, Trump told reporters outside the West Wing that the executives had signed “The White House Accord on Superintelligence: A Joint Commitment on Frontier SI Responsibilities.” Johnson described it as a voluntary statement of principles built on “robust internal controls and layers of internal and external review,” while Zuckerberg said company boards would independently review reports from outside auditors. Trump called the document “morally binding,” said he would name a new AI czar within days, and signed an executive order formally renaming artificial intelligence “super intelligence,” CNBC reported.

Musk was not in the room for Tesla alone. Since SpaceX absorbed xAI, he runs the company behind Grok and one of the largest AI training operations anywhere. On September 25, he said another 220,000 Nvidia GB300 chips would come online at Colossus 2 within a week, with more expected in November and December.

SpaceX confirms third massive compute deal at Colossus data center

 

Musk also used the trip to restate his energy ambitions. “SpaceX is aiming together with Tesla to do 200 gigawatts of solar production per year,” he said at an event in Washington. It is the same combined target he laid out that feeds directly into Terafab, the Tesla and SpaceX chip venture that will need enormous amounts of power.

The showing between Musk and Trump has come a long way, since the two had the very public split in mid 2025 after Musk opposed the “Big Beautiful Bill” and left DOGE. They reconciled at Charlie Kirk’s memorial that September, and Trump later called their relationship “good”. Since then, Musk has joined Trump’s China delegation in May and attended last week’s White House state dinner for Chinese President Xi Jinping.

For Tesla, that access to government official could pay dividends. As Teslarati noted in January, federal autonomy rules, NHTSA oversight and a single national standard for driverless vehicles all run through an administration Musk can more easily reach directly as Tesla works to scale Robotaxi and Cybercab beyond Texas.

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