Let the Apple Car rumors roll on. Apple is rumored to be planning to invest 4 trillion won (about US$3.6 billion) in Kia Motors as part of a planned manufacturing partnership between the two companies, reports the Korean site DongA Ilbo — as noted by Bloomberg.
On January 8, Korea IT News reported that Apple and Hyundai would team up to produce electric vehicles. On January 10, it was reported that Apple and Hyundai plan to sign a partnership deal on autonomous electric cars by March and start production around 2024 in the U.S.
Then, on January 19, Korea’s eDaily claimed that Hyundai intends to transition the company’s “Apple Car” partnership to its Kia brand as part of an arrangement that could see production move to the U.S.
The report added that Hyundai has decided it’s “not suitable” for the Apple Car business because of its will, to continue the Hyundai brand. Plus, the car maker purportedly doesn’t want to come an original equipment manufacturer for Apple vehicles.