Apple is said to have signed a partnership with South Korean automaker Kia to produce Apple Car, its future electric vehicles. According to the allegations; Apple will sign a contract with Kia on February 17th. Apple’s electric cars will begin to be produced in 2024.
Apple will also work with Hyundai to design and develop their first cars using E-GMP battery electric vehicles (BEVs).
According to inside information; Negotiations regarding the contract between the two companies have been going on for more than a month. Probably soon, this partnership will be officially announced soon. According to these allegations, Apple will invest a hefty $ 3.6 billion to build manufacturing capabilities at its Kia Georgia plant in the United States. Once the deal is signed, Kia will initially be expected to produce around 100,000 units of cars per year, and can be expanded to a maximum of 400,000 units.
Apple will work with Hyundai on the development and design of Apple Car. Apple is particularly interested in using the E-GMP battery electric vehicle (BEV) platform. The platform can include two engines, five-link rear suspension, battery cells that can provide a range of up to 500 km, and high-speed charging.
When news of Apple’s rumored investment broke out, Kia saw its stock prices rise by about 14.5 percent. In the future, if the deal with Hyundai goes well, Apple may consider partnering with General Motors and PSA to expand into other markets. If Apple is successful in bringing its electric vehicles to the market, it will compete with companies such as Tesla, Lucid Motors, Daimler AG and Volkswagen AG.