A potential partnership between Apple and electric vehicle maker Rivian is being reportedly discussed, according to DigiTimes. While details of the alliance are unclear, sources from Taiwan’s supply chain have confirmed that talks are ongoing. This news comes after Apple recently cancelled its “Project Titan” Apple Car project in late February.
Apple is set to announce new iPad products on Tuesday morning, while Rivian will report its first-quarter earnings on Tuesday night. Despite a slight dip of 0.9% to 181.71 in Monday’s trading session, Apple’s shares saw a 6% increase following positive quarterly earnings results and a buyback plan of $110 billion. On the other hand, Rivian’s stock climbed by 2.6% to 10.33 but encountered resistance at its 50-day moving average after reaching a record low the previous month with a market capitalization of just $10 billion.
Investors continue to monitor key players like Apple and Rivian for potential growth opportunities as the future of the automotive industry unfolds with technological advancements and strategic partnerships. Whether or not these talks result in a significant collaboration, both companies are set to make important moves in their respective sectors. Stay tuned for further developments in this evolving story.
It is worth noting that Apple has been exploring possibilities beyond traditional smartphones and tablets for several years now, including electric vehicles and smart homes. The company has been rumored to be working on an electric car project since at least 2014, but it seems that this project was ultimately cancelled due to financial reasons or lack of progress.
Rivian, on the other hand, is an up-and-coming electric vehicle startup that has gained traction in recent years thanks to its innovative technology and sleek designs. The company has already launched several models, including the R1T SUV and C_V pickup truck, which have received positive reviews from both customers and industry experts.
If Apple were to partner with Rivian, it could potentially bring together two powerful forces in the automotive industry and create something truly groundbreaking. However, it remains uncertain whether these reported talks will lead to anything concrete or if they are simply exploratory discussions.
In any case, investors will be watching closely as developments unfold between these two companies in what promises to be an exciting year ahead for the world of electric vehicles and technology innovation.