"Kia Contacts Partners for Apple Car... 3 Trillion Investment, Annual Target of 100,000 Units"

WSJ Reports Citing Sources

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Kia is reported to be contacting potential partners to assemble the 'Apple Car' at its factory in Georgia, USA.

The Wall Street Journal (WSJ) on the 5th (local time) citing sources, reported that Hyundai Motor and Kia are in contact with potential production partners in advance, preparing for the possibility that negotiations may be finalized.

An official who was briefed on the situation in Georgia told WSJ, "We are hearing encouraging stories."

Sources said that Kia and Apple's autonomous electric vehicle cooperation proposal includes a multi-billion dollar investment plan, but negotiations are not yet complete.

According to WSJ, Hyundai Motor is discussing investing $3 billion (about 3.4 trillion KRW) in negotiations with Apple to have Kia start producing the Apple Car as early as 2024. Sources said that in the first year of production, Kia's Georgia factory could assemble up to 100,000 units.

WSJ also reported that Apple is not only discussing electric vehicle production with Hyundai and Kia. Since the end of last year, Apple has started contacting several suppliers regarding the Apple Car. Some believe that Apple will not rely on a single supplier to enter this new field.

CNBC also reported on the 3rd that negotiations between Apple and Hyundai-Kia are nearing the final stage, but no final agreement has yet been reached.

This content was produced with the assistance of AI translation services.