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Apple & KIA apparently nearing $ 3.6 billion investment for manufacturing Electric Car
A new report from Korean outlet DongA claims that Kia & Apple are
nearing a deal that Apple makes a $ 3.6bn investment in Kia for future electric
car production.
While Apple is targeting Hyundai motors subsidiary, Kia, for its US facilities
in Georgia. By Investing in Kia Apple's expectations to begin electric car
manufacturing by 2024 with the initial expectation of 100000 vehicles per year.
This number could further be expanded to 400000 units per year.
Industry insiders claim that Apple is leaning towards Hyundai as its
main partner to enter into electric car production because of its electric
vehicle platform -E-GMP – its production in the US and its reported ability to
begin vehicle production by 2024.
Speciously Kia will handle the manufacturing and production Part, while
Apple will be handling the Control of Self Driving hardware, software battery
technology, and user experience, Semi-conductors, and form factor.
Hyundai and Apple are in talks for a while Hyundai self-confessed as much
only to backtrack later on. At present, it has been stated that Hyundai execs
are considering over whether to enter into business with Apple. But insiders claim
Hyundai is more than ready and sees this as an opportunity to gain favor
with Apple’s loyal base of users around the world.
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