According to the latest news, a new report has revealed that Apple and Kia are nearing a deal that would have the former make a 3.6 billion US Dollar investment into the latter. With this deal, the company will manufacture electric vehicles in the near future.
DongA reported that Apple is apparently planning on working with the Hyundai subsidiary, Kia, for its production site in Georgia, US. As per the report, the iPhone maker is expecting that its large investment production of electric vehicles will begin by 2024. The report reveals that Apple has targeted manufacturing as many as 100000 cars per year in the short run and with a long term target of reaching 400,000 units per year.
According to reports from people who are close to the matter, Apple is leaning towards Hyundai as its primary partner to enter the car manufacturing market. The main reason behind this is due to the automobile giant’s electric vehicle platform, E-GMP, and its production facilities in the US. Overall, Kia will be responsible for handling the production and manufacturing process.
On the other hand, Apple will be in control of the self-driving or autonomous systems that includes the software, hardware, user experience, battery technologies, semiconductors, along with other aspects.
Apple and Hyundai have been in talks about the production of electric vehicles for some time now. As of now, it is not clear that whether the deal is set in stone as the reports claim or the automobile maker’s execs are still assessing the deal.