According to a report from DigiTimes on Monday night, Apple is reportedly in discussions with EV maker Rivian about a potential partnership. However, the details of any potential alliance between the two companies remain unknown. Late February saw the end of Apple’s “Project Titan” Apple Car initiative.
It is uncertain whether the talks between Apple and Rivian are ongoing or if they will lead to any significant agreements. Despite this uncertainty, Apple is set to hold a “Let Loose” event on Tuesday morning, which is expected to center around new iPads. Rivian, on the other hand, is expected to report its first-quarter earnings on Tuesday night.
In Monday’s trading session, Apple stock saw a 0.9% decline to $181.71, despite a 6% increase on Friday following better-than-expected quarterly earnings and a $110 billion buyback. Meanwhile, Rivian stock rose 2.6% to $10.33 but faced resistance at its 50-day moving average line, continuing a downward trend that hit a record low the previous month. Rivian currently boasts a market capitalization of $10 billion.
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