Apple, Hyundai-Kia close to finalizing deal for Apple Car - report

“I doubt Hyundai is the only automaker they could strike a deal with: there could be somebody else," one source told CNBC.

FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019 (photo credit: REUTERS/MIKE SEGAR/FILE PHOTO)
FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019
(photo credit: REUTERS/MIKE SEGAR/FILE PHOTO)
Apple Inc. is reportedly finalizing talks with Hyundai-Kia to produce the autonomous Apple Car, according to CNBC.
Citing "multiple sources," the news outlet claims that while "no agreement has yet been reached, the Apple Car will possibly be manufactured at the Kia assembly, with a rollout scheduled for 2024."
The report added that Apple may even decide to use another auto-manufacturer instead of Kia, and noted that the introduction of the car to the market may be delayed as well along with the uncertainty.
“I doubt Hyundai is the only automaker they could strike a deal with – there could be somebody else," one source told CNBC.
The planned partnership was scheduled to begin by March and start production around 2024 in the United States, local newspaper Korea IT News reported in January. Hyundai-Kia is a Korean auto-manufacturer.
The report followed a statement on Friday from Hyundai Motor Company that it was in early talks with Apple, after another local media outlet said the companies aimed to launch a self-driving electric car in 2027, sending Hyundai shares up nearly 20%.
Both companies declined to further comment, although Hyundai reiterated comments that it has received requests for potential cooperation from various companies on developing autonomous EVs.
An updated version of the IT news report removed details, including production location and capacity as well as the timeframe for signing the agreement and launching the pilot vehicles.
The previous version said the companies planned to build the cars at Kia Motors’ factory in Georgia – which follows along with the CNBC report – or invest jointly in a new factory in the United States to produce 100,000 vehicles around 2024. The full annual capacity of the proposed plant would be 400,000 vehicles.
The report also said Hyundai and Apple planned to release a “beta version” of the Apple cars next year.
Reuters reported in December that Apple was moving forward with autonomous car technology and aimed to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.

Zachary Keyser and Reuters contributed to this report.