The first cars produced by Apple and Kia could be on the market as early as 2024.
The first cars produced by Apple and Kia could be on the market as early as 2024.
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BRAND COOPERATION Cooperation with Kia - Will we be driving Apple cars in the future?

| Updated on 09.02.2021Editor: Nicole Kareta

From iPhone to car - according to a South Korean newspaper, Apple wants to invest EUR3.6 billion in Kia to build an Apple car. Back in January, it became known that Apple and Hyundai Motor Group - to which Kia belongs - were negotiating a vehicle cooperation.

Update - Hyundai and Kia deny discussions with Apple

After speculations of a collaboration between Kia and Apple properly fueled the rumor mill around the joint carmaker, Hyundai and its subsidiary Kia broke the silence - and made a negative statement. Accordingly, the companies denied the rumors in a statement to the Seoul Stock Exchange. The result: Hyundai's shares recently lost a good 5 %, Kia's papers around 14 %.

And what does Apple have to say about all this? Nothing! According to the online portal Next Mobility, Apple has never confirmed rumors of entering the automotive industry. So it remains to be seen whether an iCar will ever hit the streets.

Lately, several media outlets have been spreading the rumor that Apple wants to invest EUR3.6 billion in Kia to build an Apple car. The original source is the South Korean daily Dong-a Ilbo. According to the report, production is expected to start in 2024 with 100,000 cars produced for the beginning. According to the rumors, Apple has set the condition to manufacture the vehicles in the U.S., which is why the Kia production facility in Georgia could be a suitable location.

So far, the information has not been confirmed by either Kia or Apple. However, according to the CNBC television station, "informed circles" have already unofficially confirmed these reports. This is in contrast to a report by the Reuters news agency, according to which Hyundai managers have expressed concerns that a cooperation could damage the image of the group. Either way, the bubbling rumor mill has caused the South Korean automaker's share price to rise sharply.

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