Apple analyst Ming-Chi Kuo of TF Securities reportedly has said the company would work with Hyundai Motor Group on an initial Apple Car model built on the E-GMP electric vehicle platform.

According to investor website, Kuo wrote Hyundai Mobis would handle the component design and production while subsidiary Kia handled US-based production.

The analyst noted EVs contain 40-50 times the amount of parts than a smartphone which would drive Apple to rely on automakers for parts manufacturing, according to the report.

Kuo wrote: "Apple's deep collaboration with current automakers (Hyundai Group, GM, and PSA) who have extensive development, production, and qualification experience will significantly shorten the Apple Car development time and create a time-to-market advantage."

Apple would focus on the "self-driving hardware and software, semiconductors, battery-related technologies, form factor and internal space designs, innovative user experience, and the integration with Apple's existing ecosystem," Kuo said.

Kuo still didn't think the Apple Car would hit the road before 2025, at the earliest. noted the E-GMP platform was unveiled in December. Hyundai says vehicles on the platform can generate as much as 600 horsepower and will be targeted at 300 miles of driving range. The platform will support the EV future for both Hyundai and Kia.

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