Apple will invest $ 3.6 billion in Kia Motors to produce the Apple Car

Apple will invest $ 3.6 billion in Kia Motors to produce the Apple Car

A new report reveals that Apple and Kia are close to an agreement to produce the Apple Car.

Apple is reportedly planning to invest 4 trillion won ($ 3.6 billion) in Kia Motors as part of a planned manufacturing partnership between the two companies.

Apple and Kia (a Hyundai subsidiary) are rumoured to be establishing a manufacturing relationship that will see the South Korean automaker build the Appel Car at its Georgia-based facility. Furthermore, the report reveals that the two companies could sign the deal on February 17, with the aim of introducing the Cupertino-based company’s first electric car to market in 2024. Apple and Kia aim to produce 100,000 vehicles per year.

There have been several reports of a partnership between Apple and Hyundai and some previous reports have suggested that subsidiary Kia will handle production.

Just yesterday, Apple analyst Ming-Chi Kuo revealed that Apple plans to partner with Hyundai and will use the company’s E-GMP battery electric vehicle platform for its first vehicle in addition to using the Kia factory for production. US.

Unveiled in December, E-GMP is a dedicated battery electric vehicle (BEV) platform consisting of up to two motors, five-link rear suspension, integrated drive axle, battery cells, charging system and other chassis components sliding. According to the company, the system has a maximum range of around 500km on a full charge and can be charged up to 80% in just 18 minutes.

However, the analyst believes the Apple Car will not be released until 2025.

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