Apple will invest $3.6 billion to make iCar with Kia

Another rumor confirms Apple's intention to build an electric car in collaboration with industrial partner Hyundai-Kia, but everything is still shrouded in mystery.

The iCar could soon become a reality: to make its first electric car model, Apple would be ready to sign an agreement with Kia Motors Corp. The agreement, whose signature should arrive on February 17, provides for an investment of $ 3.6 billion by Cupertino with the South Korean car manufacturer.

The news has already begun to circulate in recent weeks, when it seemed certain that at the side of the bitten apple there would be another South Korean company and affiliate of Kia, or Hyundai Motor. A few hours later, an announcement by the company has completely denied the news. In the meantime, however, the rumor managed to send the Seoul-based company's stock price up 20% in value. Immediately after the local newspaper DongA Ilbo announced its partnership with Apple, Kia's share price rose 14.5 percent, its highest since 1997.

Apple and Kia, how will be the production of the first iCar

As announced, the production of the Apple Car should take place in the U.S., specifically in the factory of the automaker already existing in Georgia. According to the national newspaper, the production should concern the realization of 100 thousand cars per year at least in the first instance, with the possibility of increasing the target in subsequent years thanks to a possible participation in the project also General Motors and PSA.

At present, the development of the Apple car is still in the early stages and, before seeing the first electric car on the market could pass at least 5 years. To say so, is the authoritative voice of Bloomberg. A factor therefore particularly important, especially because it emphasizes that there is no need for Cupertino to rush the time in terms of partnership.

Of course, the production of the first electric Apple Car would clash with competitors already on the market, such as Tesla of Elon Musk, especially in terms of technology for assisted driving (read: Tesla Autopilot), are already several years ahead. All the more reason for Apple to create a collaboration for the management of the production chain, thus avoiding the investment of billions of dollars only in the specific branch.

Apple and Kia, when will the confirmation arrive?

According to the news of DongA Ilbo, absolutely to be taken with the pliers, we will have to wait until next February 17 to have the official news of the signing. In the meantime, contacted by the press, both the spokesmen of Kia in Seoul, and Apple in Cupertino have chosen not to comment on the news, leaving, in fact, still open the game.