Categories
Popular posts

Apple will invest $3.6 billion in Kia Motors for Apple Car manufacturing

If the rumors are true and Apple plans on debuting its first automobile in just five years, the company has to move things along. That’s probably why, at least in part, there are so many reports of Apple’s plans and development swirling around now. Like how the company’s now investing money to help secure manufacturing.

According to a report today from the Korean site DongA Iibo (via Bloomberg), Apple has invested quite a bit of money into Kia Motors to help secure manufacturing or a future automobile. The original report says Apple will invest upwards of 4 trillion won (about $3.6 billion) in the company.

Kia Motors is a group affiliate with Hyundai Motors. It’s been rumored for quite some time that Apple would partner with Hyundai in its effort to build its own-branded automobile. However, at the same time, Kia Motors has been an option as well.

If this all pans out, then the partnership between Apple and Kia Motors will see the latter company building Apple’s vehicles in its plant located in Georgia, in the United States. And all of this may be moving right along, as the report says Apple and Kia could finalize the partnership as soon as February 17, 2021. The goal, according to the report, is to see the Apple Car debut in 2024. (That’s a bit earlier than others have suggested.)

When manufacturing does kick off, Kia could output 100,000 vehicles a year.

Another day, another report about the oft-rumored Apple Car. This week alone has seen quite a bit in this cycle. On Tuesday we reported that Apple had poached Porsche’s VP of Chassis Development. On the same day it was reported Apple’s automobile may have a 300-mile range.

Interestingly, at least one Hyundai executive isn’t too keen on the idea of potentially working with Apple. Still, it certainly looks like Apple is making sure this all happens, and we may see the car debut sometime between 2024 and 2026.

Leave a Reply

Your email address will not be published. Required fields are marked *