Invest 4 trillion won? Apple will jointly build cars, Kia shares jumped 14%

After the capital got together to build a car, the story of Apple’s car-building seems to be coming out in a thousand calls. According to South Korea’s “Dong-A Ilbo”, an uncited source reported that Apple will invest 4 trillion won (US$3.6 billion) in Kia Motors to promote cooperation between the two parties in the field of electric vehicles.

According to reports, Apple plans to cooperate with Kia to produce Apple cars at its plant in Georgia, USA. The two companies may sign an agreement on February 17 and plan to launch Apple cars in 2024. According to reports, their initial goal is to sell 100,000 cars per year.

Affected by this news, Kia Motors shares jumped 14% on Wednesday, the highest level since 1997.

The latest remarks made by Tianfeng Securities analyst Ming-Chi Kuo in TF Securities’ investor report also specifically connects Hyundai Motor’s recently disclosed E-GMP platform with the long-rumoured Apple car.

The E-GMP platform was announced in December that it can support up to dual motors, five-link rear suspension, integrated drive axle, and a full-charged follow-up range of more than 500 kilometres. It supports high-speed charging, which can be charged to 80% in 18 minutes.

Besides, the wheelbase of the platform can be adjusted according to the positioning of the vehicle model to meet the needs of different types of research and development such as sedan/SUV/CUV/high-performance vehicles. The acceleration time of 0-100km/h can be less than 3.5 seconds and the maximum speed can reach 260 km/h.

Guo Mingchi stated that Hyundai Motor will provide its E-GMP platform and play a leading role in the design and production of some Apple auto parts.

Regarding the positioning of Apple cars, Ming-Chi Kuo said that Apple’s search for traditional car partners is to focus on autonomous driving hardware and software, semiconductors, battery-related technologies, shape and interior space design, and innovative user experience.

This future car will be a “very high-end model.” If this is true, it will certainly not become a competitor to Model 3.

Besides, Guo Mingchi said that Apple will not stop at Hyundai, and General Motors and Stellattis (formerly PSA Group) may also become its partners. However, in Guo Mingchi’s view, Apple Car may debut as early as 2025.

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