Technology giant Apple is reportedly preparing to sign an agreement with Kia Motors for the production of electric cars. We can see Apple Car on the road by 2024.
According to Reuters, Apple and Kia may sign an agreement on electric car production on February 17th. The news agency cites the Korean press as the source for this information.
Some details about the financial details of the giant agreement to be signed between the two companies have also emerged. It is stated that Apple will invest $ 3.6 billion in Kia for its production partnership.
It is aimed to produce 100 thousand vehicles per year
According to the terms of the contract, Kia will produce at least 100 thousand electric cars per year for Apple in a factory in the USA from 2024. Later, this capacity will be increased to 400 thousand.
After the rumors were reflected in the press, Kia shares gained 14.5%. However, let us remind you that the officials of both companies have not made an official statement about the cooperation yet.
Apple was meeting with Hyundai in the first place for electric car production. However, it was reported that later Apple Car will be produced at the plant of Kia, a subsidiary of Hyundai.