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Apple & Kia Pushing Towards Deal Towards Apple Car
Posted on 2/3/21 at 8:14 pm
Posted on 2/3/21 at 8:14 pm
quote:
After years of speculation that it will eventually get into the auto business with its own vehicle, Apple is close to finalizing a deal with Hyundai-Kia to manufacture an Apple-branded autonomous electric vehicle at the Kia assembly plant in West Point, Georgia according to multiple sources who briefed CNBC on the plan.
The so-called “Apple Car,” which is being developed by a team at Apple, is tentatively scheduled to go into production in 2024, though people familiar with the talks between Apple and Hyundai-Kia say the eventual rollout could be pushed back.
Sources tell CNBC no agreement has yet been reached between the two companies. In addition, they stress that Apple may ultimately decide to partner with another automaker separately or in addition to working with Hyundai.
One source familiar with Apple’s strategy on developing a car tells CNBC, “I doubt Hyundai is the only automaker they could strike a deal with, there could be somebody else.”
Apple shares rose more than 2% after hours on the news.
Spokespersons for both Apple and Hyundai-Kia declined to comment when reached by CNBC.
If an agreement is finalized, why would Apple choose Hyundai-Kia? Just as importantly, why would the Korean automaker strike a deal with Apple?
Those familiar with the discussions say each company sees a unique benefit in working with the other to develop an Apple car.
For Apple, the decision to build a car opens the potential to tap a global auto and mobility market valued at $10 trillion. Morgan Stanley analyst Katie Huberty explained the profit potential for Apple in a research note she issued in January.
“Smartphones are a $500bn annual TAM. Apple has about one-third of this market. The mobility market is $10 trillion. So Apple would only need a 2% share of this market to be the size of their iPhone business,” Huberty wrote.
Sources familiar with Apple’s interest in working with Hyundai say the tech giant wants to build the “Apple Car” in North America with an established automaker willing to allow Apple to control the software and hardware that will go into the vehicle.
In other words, this will be an “Apple Car,” not a Kia model featuring Apple software.
For Hyundai-Kia, working with Apple is being driven by the company’s new chairman, Euisun Chung, who took control of the Korean automaker last October. According to one source familiar with Hyundai-Kia strategy, “Chung has made it clear, mobility is the future of the company.” That’s important because the Apple Car will be fully autonomous.
By working with Apple, leaders of Hyundai-Kia believe they will accelerate development of their own autonomous and electric and vehicle plans. Hyundai is currently partnered with Aptiv in a joint-venture developing autonomous vehicle technology, including robotaxis.
There is no indication that joint venture would change if Hyundai reaches an agreement with Apple. In addition, the Kia plant about 90 minutes southwest of Atlanta, Georgia, has available capacity, so scaling production and tapping the Hyundai-Kia supply chain can be done relatively quickly.
CNBC
I wonder if the cars will be branded just "Apple Cars" or will it be "Apple cars made by Kia".
Kia has improved its brand, but its still not that great of a car, but I assume apple will do the design.. Kia is just going to assemble them?
Posted on 2/3/21 at 8:16 pm to OweO
frick Chris...did you have to post the whole article?
And you wonder why no one likes you
And you wonder why no one likes you
Posted on 2/3/21 at 8:16 pm to OweO
An Apple product not made in Communist China?
I don't believe
I don't believe
Posted on 2/3/21 at 8:19 pm to OweO
quote:
In other words, this will be an “Apple Car,” not a Kia model featuring Apple software.
So, a $55,000 midsize Optima.
Posted on 2/3/21 at 8:21 pm to OweO
I swear I think I'm going to start looking for an old 1977 300D and a StarTac phone. We're all becoming walking, talking and now driving human experiments.
Posted on 2/3/21 at 8:21 pm to tgrbaitn08
quote:he doesn't care that no one likes him
And you wonder why no one likes you
Posted on 2/3/21 at 8:21 pm to OweO
I’m honestly tempted to stockpile Toyota’s with a V8 engine. Lack of technology (in addition to the known reliability) would be an advantage.
Posted on 2/3/21 at 8:22 pm to OweO
quote:
I wonder if the cars will be branded just "Apple Cars" or will it be "Apple cars made by Kia".
iCar, you dumb shite
Posted on 2/3/21 at 8:24 pm to OweO
In other words, $70,000 Optimas...with low interest rates if you put it on your Apple Card!
Edit: a couple minutes too late
Edit: a couple minutes too late
This post was edited on 2/3/21 at 8:25 pm
Posted on 2/3/21 at 8:26 pm to OysterPoBoy
quote:
Will it have “incognito mode”?
It’s a secret compartment where you and a hooker can lay horizontally.
Posted on 2/3/21 at 8:26 pm to PrimetimeDaBoss
Don’t let your car get the latest update, it’ll drive conservatives right off the fricking cliff
Posted on 2/3/21 at 8:26 pm to OweO
Can it drive on all roads or just Apple approved roads?
Posted on 2/3/21 at 8:30 pm to OweO
The Apple-Kia-mobile prototype
Posted on 2/3/21 at 8:31 pm to kywildcatfanone
quote:
So, a $55,000 midsize Optima.
Probably closer to 100k with outdated tech, and fan boys fawning over an overhyped vehicle.
The upshot, you can use your Apple Card and make lease payments for life and upgrade every 2 years.
If apple doesn’t partner with an establishment brand or dealer network, wouldn’t they have difficulty dealing with closed good ole boy network of state regulators who license dealers.
If I recall, didn’t that slow new upstarts like Tesla from having dealerships in some states like Louisiana.
This post was edited on 2/3/21 at 8:33 pm
Posted on 2/3/21 at 8:33 pm to Sao
quote:Thinking about this more and more every year.
I swear I think I'm going to start looking for an old 1977 300D and a StarTac phone. We're all becoming walking, talking and now driving human experiments.
Once Scruffy has some discretionary funds, he is going to purchase an older vehicle that doesn’t have all of the electronics of current vehicles.
Maybe an older Bronco or truck.
Posted on 2/3/21 at 8:33 pm to East Coast Band
quote:
An Apple product not made in Communist China?
I don't believe
You would be right not to. They manufacture everything in China, ship pieces to GA for assembly, them market as made in America.
Posted on 2/3/21 at 8:33 pm to Booyow
quote:
iCar, you dumb shite
My bad.
I hope there is an area on the steering wheel that will allow you to plug in your ipad and a place coming off the steering wheel to put your iphone?
Yall heard about the iGlove? Its a glove Apple is making in which the screen will be a hologram, but you type using your one hand thats in the glove. You can use your other hand to touch the hologram screen.
Posted on 2/3/21 at 8:34 pm to OweO
They don't even include a charger in the box
Posted on 2/3/21 at 8:35 pm to OweO
I know electric cars are garbage, but they’re taking things to a whole level of trash if they’re involving Kia.
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