Business News: Kia is looking forward to build Apple Car in Georgia.
Kia Corp has contacted potential partners for a plan to be assembled Apple Inc’s long-awaited electric car in Georgia, according to people familiar with the matter. The proposal would involve a billion dollar investment, according to people familiar with the matter, who point out that a deal has not yet been finalized. If successful, it would push the iPhone manufacturer in the automotive sector after several years of secret work in which its engineers plotted to overthrow the automotive industry for over 100 years.
The likelihood of a final deal was called into question when Kia’s parent company Hyundai Motor Group said last month, and then tried to downplay, that it was in talks with Apple collaborate on a driverless electric car. Apple he never confirmed these talks, and his relationships with other automakers in the past have failed.
Hyundai spoke with Apple on the investment of more than $ 3 billion in a deal that would see its subsidiary Kia start building cars under the tech company’s brand as early as 2024, a person familiar with the matter said. Under one such deal, up to 100,000 vehicles would be assembled in the first year in Georgia, where Kia has a factory, the person said.
As Korean media reports on a deal, Hyundai and Kia’s shares have skyrocketed. Recently, Hyundai-Kia officials contacted potential partners in preparation for concluding the deal. “We are hearing encouraging things,” said an informed person on the matter in Georgia.
Hyundai-Kia isn’t the only entity in the automotive industry to talk to Apple on its latest ambitions. Late last year, Apple began contacting suppliers about the possible production of a vehicle.
The revelation late last year that Apple he was in negotiations with suppliers came after several years of adaptations and starts for his automotive program, dubbed Project Titan. Apple he first considered building a car, but then went back to work on the technology for driverless cars. Now it looks like he’s thinking about a car again.