Apple will invest billions of dollars in car maker Kia as part of the Apple Car project

A new report in the Korean media indicates that Apple is expected to invest about $ 3.6 billion in the Korean carmaker Kia, a report that led to a 14.5% jump in the company’s share. According to Bloomberg, The deal, which has not yet been closed, is intended to be part of the collaboration between the two companies in the construction of Apple’s first electric vehicle, the Apple Car, at Kia’s plants in the USA.

According to the new information, Apple is expected to sign a deal with Kia in the amount of 4 trillion Korean won (about $ 3.6 billion) in the near future and maybe even as early as 17.2, with an expectation of the introduction of the Apple Car as early as 2024, when Stand at 100,000 vehicles a year, vehicles manufactured at the Kia plant in Georgia USA, according to the report.

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The new information reinforces previous reports of a possible collaboration between Apple and Korean automaker Hyundai (Hyundai), a report that was even approved by Hyundai first, but modified afterwards. Keep in mind that Kia is actually a subsidiary of Hyundai, which does not contradict previous reports.

While we are expected to see Apple’s electric and autonomous Apple Car only towards 2024, the collaboration between the company and a more reputable carmaker like Kia comes as a pretty obvious step, especially for Apple, it does not have the knowledge in actual vehicle manufacturing and suitable factories for that. .