Apple and Volkswagen are considering to co-develop 'iCar', says report

The online edition of Financial Times Deutschland reported that AppleInc. and Volkswagenare considering to team upfor a completely novel car model aiming to attract young customers.

According to the report, a Volkswagen spokesperson acknowledged negotiations between both companies. The talks could result to a joint 'iCar' product, as an extension to Apple's product nomenclature, the report said.

Volkswagen CEO Martin Winterkorn and Apple CEO Steve Jobshave met a few days ago in California for concrete cooperation talks. The Volkswagen spokesperson was quoted as saying that the negotiations will be continued and that there are "lots of ideas, but no specific plans".

The report said that Volkswagen plans an unconventional sub-compact car that will be sold at a price of about $8,160