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Chris Smith
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- A new report from Korea claims that Apple will invest $3.6 billion in Hyundai affiliate Kia Motors to manufacture the Apple Car.
- The contract should be signed in the coming weeks, with the first Apple Car supposed to come out in 2024.
- The vehicle would be mass-produced in the US, with Kia setting up a production line dedicated to the Apple Car.
The Apple Car rumor is picking up steam steadily, with an increasing number of reports indicating Apple’s renewed efforts to manufacture its own self-driving electric car that would rival the likes of Tesla. A report from Reuters said last year that Apple is working on two key technologies for the Apple Car, including a revolutionary battery tech and the self-driving tech (software and hardware). It wasn’t clear at the time whether Apple would develop the project alone, a massive undertaking that would involve the development of its own automotive supply chain, or whether it would partner with an existing carmaker.
Reports that followed pointed to Korean giant Hyundai as the potential manufacturer of future Apple Cars. Hyundai confirmed the negotiations initially but then had to rescind the comments, updating its remarks twice to remove anything that would indicate Apple was making its own car. A well-known Apple insider said the other day that Apple would use Hyundai’s newly announced E-GMP platform for electric cars. Soon after that, Korean media has reported that Apple is about to invest $3.6 billion in Hyundai affiliate, Kia, with plans to have its first car models out in 2024. The Reuters report said that Apple was targeting production for 2024.
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Apple to invest $3.6 billion in carmaker Kia to manufacture its Apple Car originally appeared on BGR.com on Wed, 3 Feb 2021 at 06:50:29 EDT. Please see our terms for use of feeds.
Via BRG - Boy Genius Report