Apple Chose Kia to Manufacture Cars

Apple chose Kia to manufacture cars. Apple is preparing to sign an agreement with Kia Motors for the production of electric vehicles.

US technology giant Apple is preparing to sign an agreement with Kia Motors for the production of electric vehicles. If the companies agree, it is thought that Apple branded vehicles will be introduced in 2024. Following the news spread that Apple will invest 4 trillion won ($ 3.5 billion) in Kia Motors to build an auto manufacturing and development facility, shares of Kia Motors gained 14.5 percent. According to DongA Ilbo's report, iPhone maker Apple will start producing Apple vehicles at Kia's facility in Georgia by establishing a manufacturing partnership with Kia. While the two companies are expected to sign the agreement on February 17, it is aimed to introduce the car in 2024 and produce 100,000 vehicles annually. Since the news that the US technology giant Apple is planning to produce electric vehicles, it has been wondered who will be the production partner. According to the news in Bloomberg News, Apple's car production plan is at a very early stage and it may take about 5 years for the company to produce an autonomous electric car. Last month, Hyundai announced that it was in talks with Apple and then said that they were only talking about developing electric cars, which increased Hyundai's shares by 20 percent. Kia's shares reached their highest level since 1997 after the news.     You may also want to read this: Apple Plans to Produce Cars Source: Bloomberg HT