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2021-02-03

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Apple to Invest $3.6 Billion in Kia to Make EVs, DongA Says

(Bloomberg) -- Apple Inc. will invest 4 trillion won ($3.6 billion) in Kia Motors Corp. as part of a

Apple to Invest $3.6 Billion in Kia to Make EVs, DongA Says

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A representative for the carmaker in Seoul and an Apple representative in California declined to comment on the report.\nLast month, Hyundai Motor Co., an affiliate of Kia, backed away from a statement that said it was in talks with Apple, revising it to say only it had been contacted by potential partners for the development of autonomous EVs.\nAn electric Apple car would rival vehicles from Tesla Inc. and companies such as upstart Lucid Motors and established manufacturers Daimler AG and Volkswagen AG. Setting up a car plant can cost billions of dollars and take years, likely the reason why Apple is talking to potential partners.\nOther technology companies seeking to expand into cars have also sought partnerships. 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Apple to Invest $3.6 Billion in Kia to Make EVs, DongA Says

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