Apple is going to jump on its electric car ambitions. The tech giant is going to in partnership with Kia motor. They are planning to invest a sum of $3.6 billion in a world-renowned automotive manufacturer. Their major goal is to develop Apple electric cars with the help of Hyundai and Kia.
As reported by South Korean newspaper DongA, Apple is going to invest through Hyundai to manufacture electric cars at Kia Plant in West Point, Georgia. According to this source, a contract is going to be signed on 17th February 2021 and will be made public.
Hold-on The Korean newspaper DongA Ilbo claims the deal includes a plan to build 100,000 electric cars by 2024 and then they will expand it by 4x to 400,000. Its Second rumor about Hyundai-Apple Partnership this week seems to be authentic and hope will be aired soon.
After this partnership, both these companies Hyundai and Apple will get more attention and fruitful for both tech giants. On the other hand, Kia will also be of benefit as Apple does have not any past experience with vehicle / Electric Car manufacturing.
In the very past, it is not clear that we are sure but in the past, someone called this project as iCar and Titan Project. Whatever it is but it does not mean stock prices (133.94 USD −1.05 (0.78%): 4/2/2020) of Apple will rise after this news but hope for the best.
Apple Electric Car Specs
The car will have quite 300 miles of range on a full charge. It will get 60 miles on a five-minute charge as reported. it’ll even be ready to go from 0-60 mph in but 3.5 seconds and have a top speed of 160 mph, reported Apple analyst Ming-Chi Kuo. They are also going to introduce new types of batteries to raise storage power and increase mileage & engine power.
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