Apple's Automotive Ambitions: The Tech Giant's Trillion-Dollar Bet On Kia Motors

Apple is rumoured to be investing $3.6 billion in Kia Motors to build an electric Apple Car, according to a report by Korean outlet DongA Ilbo. The deal, which may be signed on February 17, will see Apple invest 4 trillion won ($3.6 billion) to secure access to Kia's U.S. facilities in Georgia. 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 annually.

Apple's investment in Kia Motors will be $3.6 billion

Apple is reportedly planning to invest $3.6 billion in Kia Motors to build an Apple Car. The investment will be made in South Korean carmaker Kia Motors, with the aim of producing electric vehicles. The iPhone maker plans to set up production with Kia and build Apple cars at the automaker's facility in Georgia, U.S. The companies may sign a deal on February 17, with the aim of introducing Apple cars in 2024. They have an initial target to produce 100,000 autos per year, which can later be expanded to 400,000 units.

Apple's funds will be used to build exclusive facilities for the production and development of Apple Car. This will be a dedicated facility for Apple Car production. The report follows a January report that Apple is talking to Hyundai about Apple Car production, which Hyundai has confirmed. However, the company noted that the discussion was "at its early stage" and that "nothing has been decided".

Kia Motors shares jumped as much as 14.5% after the report of Apple's investment was released. This took Kia shares to their highest levels since 1997.

The Apple Car will be built in Kia's Georgia plant

Apple is rumoured to be investing $3.6 billion in Kia Motors to build 100,000 Apple Cars per year, with the ability to ramp up to 400,000. The Apple Car will be built in Kia's Georgia plant in the US and is expected to launch in 2024.

According to a report by Korean outlet DongA Ilbo, Apple will invest 4 trillion won ($3.6 billion) in Kia Motors in a collaboration to build an electric car. The report claims that the companies may sign a deal on 17 February 2021 and plan to launch the Apple Car in 2024, with an initial target of producing 100,000 cars per year. This can later be expanded to 400,000 units.

Apple's funds will be used to build exclusive facilities for the production and development of the Apple Car. The iPhone maker plans to set up production with Kia and build Apple cars at the automaker's facility in Georgia, US.

The Apple Car will be built on Hyundai's E-GMP electric vehicle platform, with Hyundai Mobis offering assistance with component design and production. Hyundai, which owns Kia, initially confirmed it was in talks with Apple about Apple Car production but later walked back its statement, saying it was talking to multiple parties about building an autonomous electric vehicle.

The Apple Car is expected to have a range of over 300 miles on a full charge and should get 60 miles of range on a five-minute charge. It will also be able to go from 0-60 mph in less than 3.5 seconds and have a top speed of 160 mph.

The car will be electric and autonomous

Apple's car project, "Project Titan", has been cancelled as of February 2024. However, the car, if it had been produced, would have been electric and autonomous.

The Apple Car was initially planned to be a fully autonomous vehicle with no steering wheel or pedals. However, due to delays and internal strife, the design was changed to a more traditional vehicle with a driver's seat, steering wheel, and pedals. The car would have had Level 2 autonomous capabilities, including steering and brake/acceleration support, but the driver would have remained in control of the vehicle and would have had to pay attention to the road.

Apple aimed to release the car in 2024, but this was later pushed back to 2025 and then 2028. The car was expected to have a range of over 300 miles on a full charge and would have been able to go from 0-60 mph in less than 3.5 seconds, with a top speed of 160 mph.

The Apple Car was expected to be priced under $100,000, which would have made it notably more expensive than entry-level Tesla vehicles, but on par with the higher-end Tesla Model S.

The deal between Apple and Kia may be signed on February 17

Apple is rumoured to be investing $3.6 billion in Kia Motors to build an Apple Car, according to a report by Korean outlet DongA Ilbo. The deal may be signed on February 17, with the plan to launch the Apple Car in 2024. The initial target for production is 100,000 cars per year, which can later be expanded to 400,000 units.

Apple's funds will be used to build exclusive facilities for the production and development of the Apple Car. The iPhone maker plans to set up production with Kia and build Apple cars at the automaker's facility in Georgia, U.S.

The report follows news in January that Apple was talking to Hyundai about Apple Car production. Hyundai later revised its statement, only confirming that it had been talking to partners about building an autonomous electric vehicle.

Hyundai and Kia are set to launch a new electric vehicle platform this year, which could serve as the basis for the Apple Car. The platform offers a range of over 300 miles per charge.

Kia Motors shares jumped as much as 14.5% after the report of Apple's investment was released.

The Apple Car is expected to launch in 2024

Apple is rumoured to be investing $3.6 billion in Kia Motors to produce an electric Apple Car, with a launch date of 2024. This will be a collaborative effort, with Apple investing 4 trillion won ($3.6 billion) to secure access to Kia's US facilities in Georgia. 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 annually.

The Apple Car will be built on Hyundai's E-GMP electric vehicle platform, with Hyundai Mobis offering assistance with component design and production. Kia, which is partially owned by Hyundai, will handle production in the US. Apple is expected to be in charge of self-driving hardware and software, semiconductors, battery technologies, form factor and user experience.

Apple analyst Ming-Chi Kuo revealed possible specs for the vehicle. The car will reportedly have a range of more than 300 miles on a full charge, and should get 60 miles of range on a five-minute charge. It will also be able to go from 0-60 mph in less than 3.5 seconds, and have a top speed of 160 mph. These specs are for the high-performance model, meaning there should be at least one, cheaper, regular model.

Kuo also said the car would be built in partnership with Hyundai, with a launch date of 2025 at the earliest. However, other reports suggest that the Apple Car will be unveiled in 2024.

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