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Market Chatter: Kia Seeking Potential Partners for Apple Car Production

· 02/05/2021 07:22

12:08 PM EST, 02/05/2021 (MT Newswires) -- South Korean car manufacturer Kia Corp. is seeking potential partners as it plans to build Apple's (AAPL) autonomous car at its existing manufacturing plant in the US state of Georgia, the Wall Street Journal reported Friday, citing people familiar with the matter.

Up to 100,000 vehicles could be assembled in the first year of production which could start as soon as 2024, the report said.

Kia's parent company, Hyundai Motor Group, was reported to be in talks with Apple to collaborate on electric cars that also contemplates a $3 billion investment, but the Cupertino, California-based company has never confirmed those negotiations, The WSJ said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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