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Tuesday January 26, 2021

Apple and Hyundai reach an agreement to manufacture an Apple car!

Reuters reported that Apple and Hyundai will sign a partnership agreement between them by next March in order to manufacture the next Apple car.

Earlier reports had indicated that the two companies had started an initial negotiation round, and Hyundai commented that the talks and discussions are still in their early stages.

According to the agency Reuters The agreement will include the production of the Apple electric car either in one of the factories of Kia Motors – a subsidiary of Hyundai’s parent company – in the US state of Georgia or the establishment of a new plant in the United States with a production capacity of 400 thousand cars annually.

The report also mentioned that the test version of the car will be available by 2022, and that the final mass production phase of the car could be by 2024 in the most optimistic possible scenario.

It is worth noting that another report from the Bloomberg site had indicated that the Apple car is far from the production stage and this will not happen for 5 to 7 years from now.

Apple needs a strong partner from the major car manufacturers in the world such as the Korean Hyundai company for several reasons, including that the car industry is a complex process, and Apple does not have experience in this field, the need to develop new batteries suitable for the car, and also the need for an infrastructure of advanced factories to produce the car. .

On the impact of these reports, shares of Hyundai and Kia Motors witnessed a rise in their shares on the stock exchange, when there was no official comment from Apple so far.

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