Apple Inc. is reportedly in discussions with electric vehicle manufacturer Rivian Automotive Inc., which has a market cap of $10 billion, about a potential partnership, according to multiple sources including DigiTimes and various news outlets. The details of the partnership are not yet public, but the talks come after Apple previously halted its own Apple Car project earlier this year. Rivian, known for its innovation in the electric vehicle market, is seen as a strategic partner as Apple looks to re-enter the automotive space. The news has sparked speculation and interest in the financial markets, with Rivian's stock showing movements in overnight trading. Rivian is scheduled to announce its Q1 results after the closing bell, while Apple is due to hold its first hardware launch event for the year.
$AAPL $RIVN ❖ SPECULATION ARISES ABOUT APPLE EXPLORING COLLABORATION WITH EV STARTUP https://t.co/E3mvLqf0cZ
Are the wheels back on the Apple Car project? New Rivian partnership rumors swirl just months after it was canceled https://t.co/3FYDEMllB5
I don't believe a single bit of any Apple and Rivian potential partnership. Apple tried to do something in the auto space for over 10 years with zero results. They couldn't produce a car which means all they likely have is a glorified version of Car Play. Rivian can't produce… https://t.co/KSEymRBvUk