Kia could receive a $ 3.6 billion investment from Apple to develop the Apple Car

We have some interesting weeks ahead of us, given the amount of information about Apple Car that we receive from all sorts of more or less official sources. At least until Hyundai decides whether or not to work with Apple to make a car for the famous electronics maker, we’ll keep getting such news, and the latest information mentions the amount of money Apple will invest. to start this project.

Apple Car could be manufactured in 100,000 units per year, starting in 2024

According to South Korean publication DongA, Apple and Kia, the Hyundai subsidiary that will produce the car, could soon sign a partnership through which Apple could invest around 4 trillion won (about $ 3.6 billion) in the car manufacturer. This amount should cover preparations for entry into production for Apple Car in 2024.

Apple chose Kia for several reasons, it seems. First of all, due to the E-GMP platform developed by Hyundai, but also due to the fact that there is already a factory of the company in the state of Georgia in the United States of America. The initial production capacity would be 100,000 units per year, while this capacity could be increased over time to 400,000 units.

DongA also reveals the responsibilities of each company. Kia would deal exclusively with production and assembly, while Apple would contribute with the components it already knows how to make. We are talking about the software that will be the basis of the car, which will most likely provide integration with Apple mobile devices, about the hardware platform on which this software will run, the batteries, but also the exterior design of the vehicle.

It seems that everything is already at a fairly advanced stage, so all that remains is for the members of Hyundai’s management departments to agree on this partnership. Given that Apple wants the car to hit the market in 2024 or 2025, it will probably quickly look for another partner if Hyundai refuses.

Erin Smith
As our second lead editor, Erin Smith provides guidance on the stories Nomad Labs reporters cover. She is a digital nomad, writer and passionate explorer of life. She works as a freelance writer, helping businesses and entrepreneurs tell their stories and share their passions with the world. He's also an avid reader and loves learning about different cultures and philosophies. Erin is all about living life and shes always looking for new experiences to share and new friends to meet.