The mysterious Apple Car seems to have become a myth owing to a lack of significant official news about it, apart from multiple rumors about its development.
If the grapevine is to be believed, Apple is set to invest $3.6 billion in KIA Motors to form a manufacturing partnership with one of Korea’s biggest and most famous automakers. The news has reportedly been revealed by a Korean website called Ilbo.
As per the report, KIA Motors – a subsidiary of the Hyundai Motor Group – is planning to ally with Apple, whereby the former will supervise the production of the Apple cars at a new manufacturing facility in Georgia, USA.
The report adds that Apple and KIA could be signing an agreement by 17 February 2021, as the former plans to introduce the car by 2024. Once the production begins, Apple reportedly plans to produce at least 100,000 cars a year to meet the rising demand for smart vehicles.
A few weeks ago, rumors had surfaced that Apple is in talks with Hyundai to discuss the partnership terms for the production of the Apple car. Since then, there has reportedly been a significant exchange of opinions by the automaker and the media as Apple seems dispositioned to maintaining a sense of mystery about its highly anticipated product.