Apple may be accelerating their EV car project, with Bloomberg reporting that the company may have settled on Korean car company Kia to produce their Apple Car.
We had earlier reported that the company was in talks with Hyundai Motors, but that the company was somewhat reluctant to be turned into just another ODM like Foxconn.
Bloomberg reports that Kia on the other hand may receive an investment of up to 4 trillion won ($3.6 billion) as part of the project.
The cars would reportedly be produced in the USA in Kia’s Georgia, U.SA. facility, with production set to start on in 2024, an accelerated time frame for the project, which was recently expected to only deliver results in 2027. Instead of concentrating on fundamental technology, Apple will now focus more on the styling and infotainment aspect of the vehicle. Apple reportedly plans to “re-imagine a car’s interior for a future in which people ride passively rather than steer,” with their Project Titan Apple Car team reportedly “filled with dozens” of ex-Tesla hardware and software engineerings.
The initial target for production is said to be 100,000 cars per year, which is quite a large entrance into what is still a nascent market.
The report suggests the deal may be signed as early as the 17th of February.
Kia Imagine Concept EV
Kia is in fact one of the leaders in the EV car market, with their e-Niro and e-Soul cross-overs being respected for their great efficiency and reasonable prices.
Kia and Hyundai have a complex relationship, with Hyundai owning around 1/3 of Kia, and Kia Motors owning approximately 22 different Hyundai Motor subsidiaries. The share price of both companies spiked on the news.