A Kia Motors factory in Georgia in 2015.
Photo:
Todd J. Van Emst / Associated Press
That Body.
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addressed potential partners about an Apple assembly plan Inc
AAPL 2.58%
The long-awaited electric car in Georgia, according to people familiar with the matter.
The proposal would involve an investment of billions of dollars, according to people familiar with the matter, who point out that an agreement has not been finalized. If successful, it would push the iPhone maker into the car business after several years of secret work in which its engineers planned to support the auto industry for more than 100 years.
The likelihood of a final agreement was called into question when Kia’s parent company, Hyundai Motor Group,
said last month, then sought to minimize, that he was in negotiations with Apple to cooperate on a driverless electric car. Apple has never confirmed these talks, and its interactions with other automakers in the past have disappeared.
Hyundai has spoken to Apple about investing more than $ 3 billion in a deal that would see its subsidiary Kia begin building cars under the technology company’s brand as early as 2024, said a person familiar with the matter. Under such an agreement, up to 100,000 vehicles could be assembled in the first year in Georgia, where Kia has a factory, the person said. The Korean newspaper Dong-A IlBo reported earlier the scope of the potential agreement.
“Ben Foldy contributed to this article.”
Write to Tim Higgins to [email protected], Elizabeth Koh to [email protected] and Cameron McWhirter to [email protected]
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It appeared in the February 5, 2021 print edition as “Kia is looking for partners to build Apple Car.”