Apple (NASDAQ:AAPL), which recently pulled the plug on its EV endeavor known as "Project Titan" may not be out of the game entirely, according to speculations in a Taiwanese publication DigiTimes.
The report, published early Tuesday, alleges that Apple, having accumulated over 10 years of expertise and IP in the space, is still discussing cooperation opportunities with existing US electric car manufacturers.
More specifically, according to 'rumors in the supply chain,' Rivian (NASDAQ:RIVN) (EV), the EV startup backed by Amazon (NASDAQ:AMZN), "is the one most vocal in contacting Apple."
Analysis by DigiTimes' writers believes Apple's potential partnership and the opportunity to provide software boost to Rivian may "achieve benefits in the shortest time."
DigiTimes noted that it could only confirm the two companies have negotiated - the specifics, potential roles and methods of cooperation are unknown.
RIVN shares are gaining over 6% in pre-market on Tuesday, in a move possibly tied to the speculations. AAPL is up just shy of 1%.