Wednesday, 3 February 2021

Apple and Kia reportedly nearing $3.6b investment for electric car manufacturing

A new report from Korean outlet DongA claims that Apple and Kia are nearing a deal that would see Apple make a $3.6b (4 trillion KRW) investment in Kia for future electric car production. Apple is targeting Hyundai subsidiary Kia for its US facilities in Georgia. Through its investment Apple hopes to begin electric car manufacturing by 2024 with the initial expectation of 100,000 vehicles per year. That figure could further be expanded to 400,000 units per year. Industry insiders claim that Apple is leaning towards Hyundai as its main partner to enter into car production because of...

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