The Apple/Kia auto project rumors continue.
A new report from South Korean news outlet Dong-A has indicated that Apple and Kia are close to reaching a deal that would see Apple invest about 4 trillion won (roughly $3.6 billion) on a collaborative “Apple Car” project with the company.
The report, which doesn’t cite sources, says that Apple and Kia could strike a production deal on February 27th. Once complete, the companies are eyeing a production run in 2024 with an initial capacity of 100,000 cars per year, though the plant can ramp up to a maximum of 400,000 units a year, the report says.
The terms of the contract are currently unknown, and it is unclear as to what the supposed investment might cover.
On Tuesday, Apple analyst Ming-Chi Kuo in a note to investors predicted the iPhone maker will work with Kia parent company Hyundai on the design and manufacture of an electric vehicle.
The “Apple Car” will supposedly be built on Hyundai’s E-GMP electic vehicle platform, with Hyundai Mobis offering assistance with component design and production. Ku stated that Kia might handle production while Apple takes on the self-driving hardware and software, semiconductors, battery technologies, form factor and user experience.
Stay tuned for additional details as they become available.
Via AppleInsider, Bloomberg, and Dong-A