Apple To Invest $3.6 Billion In Kia Motors To Manufacture Apple Car

Harin - Feb 04, 2021


Apple To Invest $3.6 Billion In Kia Motors To Manufacture Apple Car

Apple will invest $3.6 billion in Kia Motos as part of a joint Apple Car production plan in the US. The goal is to launch the Apple Car by 2024.

According to South Korean news site DongA Ilbo, Apple will invest $3.6 billion in Kia Motors as part of a joint Apple Car production plan in the US.

The site stated that the iPhone maker and Kia (a subsidiary of Hyundai) would work together to manufacture the new car at a company’s plant in Georgia, USA. The two companies will likely sign a joint agreement on February 17. The goal is to launch the Apple Car by 2024. The original plan is to produce around 100,000 vehicles per year.

Apple Car
Apple will invest $3.6 billion in Kia Motos as part of a joint Apple Car production plan in the US.

Last month, many reports said that Apple was in talks with Hyundai to produce the electric vehicle. Initially, Hyundai confirmed that it was in discussion with Apple. However, the company then changed its statement, saying that it was contacting a major partner in electric vehicle development.

Bloomberg reports that Apple’s electric vehicle development is still in its early stages, and it will take the company about half a decade to launch a self-driving car. This suggests that the company is in no rush to decide on its partners.

Apple Car 2
The Apple Car will go head to head with rivals like Tesla and emerging companies like Lucid Motors and China’s Nio Inc.

The Apple Car will go head to head with rivals like Tesla and emerging companies like Lucid Motors and China’s Nio Inc. That is not to mention well-known automakers like Volkswagen and Daimler AG. Setting up a car factory can take years and cost billions of dollars. That is why Apple searches for a partner like Hyundai.

Many other tech firms have also ventured into the electric car playground. iPhone assembler Foxconn Technology said that it had established a joint venture with Chinese automakers Zhejiang Geely Holding Group to provide manufacturing capabilities and consulting services to car manufacturers around the world.

>>> Apple Car Specs Leaked, And They Are On Par With Tesla Model 3's

Comments

Sort by Newest | Popular

Next Story

Read more

Samsung Galaxy A52 & Galaxy A72 Support Pages Go Live In India, Launch Should Be Close

Mobile- Feb 22, 2021

Samsung Galaxy A52 & Galaxy A72 Support Pages Go Live In India, Launch Should Be Close

The Samsung Galaxy A52 and Galaxy A72 India launch could take place sometime next month.

Apple Buys 3 To 4 Companies Per Week, Tim Cook Says

ICT News- Feb 24, 2021

Apple Buys 3 To 4 Companies Per Week, Tim Cook Says

Apple's notable acquisitions in 2020 included the Dark Sky weather app, NextVR and Spaces VR/AR startups, Mobewee mobile payments service, etc.

Huawei Mate 40 Pro Review: Incredible Hardware But Have No Google Apps

Mobile- Feb 24, 2021

Huawei Mate 40 Pro Review: Incredible Hardware But Have No Google Apps

Huawei Mate 40 Pro is one of the best smartphones around but without the software support, users will have a hard time using it as their only phone

Best Smartwatch In India: Best Options In 2021 For Different Budgets

Gadgets- Feb 23, 2021

Best Smartwatch In India: Best Options In 2021 For Different Budgets

Looking for the best smartwatch in India? Here are the top options to get in 2021, with prices ranging from Rs 5,000 to Rs 40,000.

16 Most Dangerous And Challenging Roads In The World

Features- Feb 22, 2021

16 Most Dangerous And Challenging Roads In The World

These roads are known for their rough conditions, narrow passes, unforgiving terrain, and sheer drops. Here 16 of the world’s most dangerous roads.

iQOO Neo 5 India Version To Feature Snapdragon 870 & 66W Fast Charging

Mobile- Feb 24, 2021

iQOO Neo 5 India Version To Feature Snapdragon 870 & 66W Fast Charging

Going by how many platforms the iQOO Neo 5 has gone through, its India launch should not be too far away.