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Apple may build a fully autonomous electric car with Hyundai-Kia

2021-02-04 19:13 by
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After years of speculation that it will eventually get into the auto business with its own vehicle, Apple is close to finalizing a deal with Hyundai-Kia to manufacture an Apple-branded autonomous electric vehicle at the Kia assembly plant in West Point, Georgia according to multiple sources who briefed CNBC on the plan.

This will be a true "Apple Car" rather than a Kia car just with Apple inside. For Hyundai-Kia, this is still a big win even if they don't get to put their name directly in front. It falls in line with the company's renewed focus on introducing mobility into its vehicles.

An electric Apple car would rival vehicles from Tesla Inc. and companies such as upstart Lucid Motors and established manufacturers Daimler AG and Volkswagen AG. Setting up a car plant can cost billions of dollars and take years, likely the reason why Apple is talking to potential partners.

The so-called "Apple car" is being developed by a team at Apple and would go into production in 2024, although that date could be pushed back, CNBC said. The report suggests Apple has set an initial target of producing 100,000 cars per year, which may later be expanded to 400,000 depending on commercial reception of the vehicle.

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