Sunday, April 14, 2024

Apple will Invest $3.6 Billion in Kia Motors to Develop an Apple Car

According to the Korean Site DongA Ilbo, Apple is rumoured to invest $3.6 billion in Kia Motors as part of a proposed development partnership between the two firms.

It is said that Apple and Kia (an affiliate of Hyundai) are setting up a manufacturing partnership that will see Kia build Apple Cars at its Georgia-based U.S. plant.

With the intention of launching Apple Cars in 2024, Apple can sign a deal with Kia as soon as February 17, although that release timeline is slower than some previous launch estimates. Apple and Kia plan to manufacture 100,000 vehicles per year when they will start producing.

There have been some reports of a collaboration between Apple and Hyundai, and previous reports have indicated production will be done by Hyundai’s Kia brand. Earlier, Korea IT News also said in January that electric vehicles produced by Apple will likely be manufactured at Kia’s Georgia plant.

Apple analyst Ming-Chi Kuo said claims that an Apple car will arrive “at the earliest” in 2025, but if it wants to reach that deadline, Apple is already on a tight timetable, so a launch can be pushed back further.

Related Articles

Latest Articles