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Apple and Hyundai-Kia pushing toward deal on Apple Car

CNBC's Fast Money

01:59 min | 1 year ago

Apple and Hyundai-Kia pushing toward deal on Apple Car

"Have confirmed from multiple sources. That apple is in discussions with hyundai kia to build an apple car. If you will it'll be a car that would be designed and developed by apple it will be built potentially at the kia plant in west point georgia that's about ninety miles southwest of atlanta. They have some available capacity there and according to our sources apple and hyundai kia are close to finalizing an agreement. That would have that car built by hyundai kia here. In north america we have reached out to spokespersons for both apple as well as hyundai kia. Both of them declined to comment on this report. But we have it from multiple authorities that this is going down the track. Melissa that apple will be building an apple cart tentatively scheduled for production to start in two thousand twenty four. But all of the sources that we've talked to have said look. This could get pushed back to twenty. Twenty-five nothing is written in stone in terms of. It's actually going to be rolling out at that time but it will be an autonomous electric vehicle. The focus on that last mile which is so critical. Whether it's for roy taxis or package delivery firms in at least initially. That's going to be the focus of this vehicle. Melissa back to you remind me is hyundai. Kia the initial company that was and then the deal was allegedly scrapped. Because they had gone to the press about it and it's okay. Yes but i should also point out busa almost everybody that i've talked with this. Who is familiar with these. Discussions has said. Don't be surprised if apple is also in talks or has had talks with other automakers here an exclusive in terms of hey. This is the only company that we're going to work with and also says the same thing is we've seen this repr- reporting in the past with with apple and then nothing happens so at this point nothing has been finalized but our sources indicate that they do plan on building an apple car here in the us and that they are targeting that kia plant in west point georgia

Hyundai Kia Apple West Point Roy Taxis Melissa KIA Georgia Atlanta North America Busa Hyundai United States