Apple May Invest US$3.6 Billion in Kia in Apple Car Production Deal

Apple could invest US$3.6 billion into Kia, according to South Korean media reports, picked up by Bloomberg News. The Apple Car would be produced at the carmaker’s facility in Georgia, U.S. as part of a deal that could be signed as soon as February 17.

Kia Could Help Produce Apple Car

According to these plans, the first Apple Car will be introduced in 2024. The initial production target is 100,000 vehicles per year. Neither company had made a public comment at the time of this writing. However, these latest details broadly coincide with what we have heard recently. This includes the time scale and the news that Hyundai had seemingly backed away from working on the Apple Car, with Kia, an affiliate company, coming into the picture instead.

[Porsche’s VP of Chassis Development Heading to Apple Car ‘Project Titan’]