Apple and Hyundai-Kia In Talks for Apple Car

Apple is currently close to finalizing a deal with Hyundai-Kia to produce the Apple-car, which will be fully autonomous and assembled in West Point, Georgia.

“Apple Car” is currently in plans to go into production in 2024, although it might be delayed. At the moment, there has been no agreement made yet between the two companies; it is also possible for Apple to contract with another company rather than Hyundai-Kia or work with multiple automakers.

As for why Apple would work with Hyundai-Kia, Hyundai-Kia has a huge market share, and this car would not be a Kia car, but an Apple car. This would also allow Apple to control the software and hardware in the vehicle.

Hyundai-Kia hopes to gain acceleration on the development of their own autonomous vehicles; Hyundai-Kia currently has a joint venture with Aptiv in developing an autonomous vehicles; it is unsure what would happen to their joint venture if Hyundai-Kia makes deal with Apple. Hyundai-Kia plant in Georgia has the available capacity for the Apple contract should it occur.

Many expect that this will put Apple into direct competition with Tesla.

As a result of the news, Apple shares rose 2%.

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