Apple’s car-building plan may encounter another change

Apple's car-building plan may encounter another change

Recently, Apple plans to invest 4 trillion won (approximately RMB 23.2 billion) in Kia Motors for cooperation in the field of electric vehicles. According to reports, the two parties may sign a related agreement on February 17, and plan to launch Apple brand electric cars in 2024. However, according to the latest news, Kia Motors and Apple’s plan to build a car may be a new “variable.”

Apple's car-building plan may encounter another change

According to a Bloomberg report, according to people familiar with the matter, Apple’s negotiations with Hyundai Motor Company and Kia Motors on the manufacture of electric vehicles have been suspended. One reason for the suspension of the negotiations is that Apple may be “uneasy” about Hyundai Motor’s early announcement of cooperation information. . Even so, there are reports that at the end of last year, Apple has put forward stocking requirements to auto parts companies such as Heda, BizLink-KY, Heqin, and Futian, and included relevant companies in the first batch of supply chains.

Apple’s car-making plan may encounter another accident and its cooperation with Kia Motors has been suspended
Apple car concept image

According to reports, the supply chain is preparing to increase the production of Apple’s auto parts as early as the second quarter of next year, which also means that Apple’s car-building plan is still imminent, and the Apple’s car project is accelerating. In fact, many car companies have reported that they will cooperate with Apple. In January of this year, the “Korea Economic Daily” revealed that Apple and Hyundai Motors are negotiating, or will cooperate in the development of electric vehicles, and jointly develop battery technology. After the news was released, Hyundai Motor’s share price rose 17.2%.

However, the report also said that due to differences among Hyundai Motor Company executives on the potential cooperation with Apple, some people within Hyundai Motor expressed concern about becoming Apple’s contract manufacturer. Some insiders said that Hyundai Group is worried that the brand can only become Apple’s contract manufacturer, which runs counter to Hyundai’s plan to build a high-end image under the Genesis brand.