Apple expected to sign $3.6 billion Apple Car contract with Kia Motors this month
Apple is reportedly expected to sign a $3.6 billion contract with Kia Motors, part of The Hyundai Motor Group, later this month as the iPhone maker puts its foot down on plans to produce its own electric vehicle, according to Korean site DongA Ilbo (via Bloomberg).
Rumors have long suggested Apple is planning to introduce a self-driving electric vehicle to rival the likes of Tesla, with Hyundai Motor recently confirming it was in discussions with Apple over plans to produce the Apple Car, with the latest report out of Korea saying production could happen at Kia’s U.S. facility located in Georgia.
The new deal, expected to be signed as soon as February 17th, is said to aim to have Apple Car released by 2024, earlier than some other reports suggested. The report claims Apple and Kia are aiming to produce 100,000 vehicles per year when manufacturing begins.
Reports have ramped up over the past couple of months over “Project Titan,” Apple’s codename for the top-secret project. The vehicle is said to feature a “next level” battery to achieve increased range and superior levels of charge. Over recent years, Apple has been hiring many executives and former engineers from rivals, including Tesla, to work on putting Apple Car on the road, with it said that ex-Apple design chief Jony Ive was working on designs for Apple’s long-rumored self-driving automobile before leaving the company in 2019.