Kia Corp. Predicted to Partner with Apple for Electric Vehicle Production

Hyundai Motor Group will reportedly sign an agreement with Apple as early as mid-February to jointly produce the Apple car, an autonomous electric vehicle.

A highly plausible scenario is that Kia Corp., a subsidiary of Hyundai Motor Group, will receive trillions of Korean won in investment from Apple to set up a dedicated factory and produce the Apple Car using the Electric-Global Modular Platform (E-GMP) at its Georgia plant in the United States.

Apple Insider reported on Feb. 2 (local time) that a Taiwanese stock market analyst predicted that Apple would cooperate with Hyundai Motor Group to launch its first electric vehicle, the Apple car. The analyst said the Apple car will be based on the E-GMP Platform.

Hyundai Mobis will lead the design and production of parts for the Apple car, Kia Corp. will produce the Apple car in the United States, and the Apple car will be launched in 2025, the analyst forecast.

The stock price of Kia Corp. surpassed the 100,000 won line for the first time in history on Feb. 3 due to anticipations for Apple car production. It rose 9.65 percent to 97,700 won on Feb. 3. During the day, it once rose to 102,000 won. A media outlet reported that Apple would invest about four trillion won in Kia for cooperation in electric vehicle production. Kia Corp. immediately said that no decision had been made, but investors did not defect.