On May 6, reports hinted that Apple (NASDAQ: AAPL) was exploring a potential partnership with a U.S.-based electric vehicle (EV) company. With operations solely based in the U.S., Rivian (NASDAQ: RIVN) naturally rose to the top of the list as a potential candidate.

The details of the collaboration remain fuzzy and nothing more than rumors at this point, but if it ends up coming to fruition, it could result in significant benefits for each company. Here's why Apple needs Rivian, Rivian needs Apple, and what a future partnership might look like.

Rivian EVs. Image source: Rivian.

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Source Fool.com