Tuesday, June 25, 2024
NewsApple Reportedly Investing 4 Trillion Won into Kia for Apple Car

Apple Reportedly Investing 4 Trillion Won into Kia for Apple Car

Is Apple car a go?

  • $4.5 billion Canadian to help build Apple car at US Kia plants

  • Long-rumoured car would use Hyundai E-GMP architecture


A new report from Korea suggests that things are heating up for a possible Apple Car, but this time it’s Kia instead of parent Hyundai Group pegged to be the second half of the collaboration. Media in the country has said that Apple will invest US $3.6B into the automaker to move the partnership forward.

The report started with Dong-A Ilbo, a major South Korean newspaper, who said that it would be Kia making the Apple Car, and that in order to do it Apple was planning to invest 4 trillion won (CAD 4.6B) into Kia. The newspaper said that the companies may sign a deal as soon as the 17th of this month and that they were planning to launch the car as soon as 2024.

Starting with around 100,000 units per year, the site says that that could be expanded as high as 400,000 per year and that the production was expected to take place at Kia’s plant in Georgia, currently home to the Sorento, Optima, and Telluride. That plant is currently capable of around 360,000 vehicles per year, so that could mean a large expansion to the facility is coming.

The says that the Apple investment into Kia will go toward exclusive production and development facilities, pointing out that Apple has done the same with companies like LG when it comes to iPhone and iPad screens.

If the report is correct, it makes it much more likely that reports of the Apple Car riding on Hyundai’s own E-GMP electric platform are correct. That architecture, which will be used for Hyundai and Kia vehicles, is expected to start production this year, offering ranges of up to 500 km.

 

 

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