Apple plans to begin producing electric cars at Kia Motors' plants, owned by South Korean manufacturer Hyundai Motor Group.
Rumors that Apple plans to set up production of its electric cars have circulated the web for quite some time. Some time ago, their number diminished. But recently talks about the company's work in this direction again began to appear with enviable regularity. And it's not just about what Apple Car will be (or if it will be at all), but also when exactly it will be produced.
South Korean DongA Ilbo reported that assembly of electric cars Apple will occur at American Kia Motors plants located in West Point, Georgia. Later information was also published by CNBC, which stated that Apple and Hyundai Motor Group (owner of Kia Motors) are close to an agreement. Due to the agreement, Apple will invest $3.6 billion in a joint venture. The deal is expected to be signed as early as February 17.
It is alleged that if the Apple Car production starts in 2024, the company will produce about 100,000 cars annually with the possibility of increasing this figure to 400,000 units. All this led to Kia's stock price rising by 14%.
However, citing a source close to Hyundai-Kia, CNBC journalists claim it is too early to declare a final agreement. Apple is still hesitant to consider cooperation with other automakers like General Motors and Groupe PSA. After all, creating a fully autonomous electric car is an overly ambitious plan, especially when you consider the production schedule that will take 3-4 years. And for this reason, the company will consider a variety of options and possibilities.