A new report from a Korean outlet DongA says Apple and Kia are set to strike a deal that would see Apple invest $ 3.6 billion (KRW 4 trillion) in Kia for future production of electric cars.
Apple targets Hyundai Kia subsidiary for its US facilities in Georgia. With its investment, Apple hopes to start manufacturing electric cars by 2024 with an initial expectation of 100,000 vehicles per year. This figure could be increased to 400,000 units per year.
Industry insiders say Apple is leaning towards Hyundai as a primary partner to enter automotive production due to its electric vehicle platform – E-GMP – its production facilities in the United States and its declared ability to start vehicle production by 2024.
Apparently, Kia will take care of production and manufacturing, while Apple will control the standalone hardware, software and user experience, battery technologies, semiconductors, and the form factor.
Apple and Hyundai have been in talks for some time. Hyundai admitted it, only to go back later. Currently, it has been reported that Hyundai executives are considering whether to do business with Apple. However, insiders say Hyundai is more than ready and sees it as an opportunity to gain favor with Apple’s loyal user base around the world.
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