Kia Motors shares are rising

 Kia Motors shares are rising

Shares of Kia Motors rose about 15 percent, after reports of a strategic partnership with Apple related to the manufacture of electric cars.

 

And Bloomberg quoted reports that Apple has invested the equivalent of $ 3.6 billion in the South Korean car company.

 

This investment will allow Kia to build Apple electric cars with new production lines at a facility expected to be located in Georgia, in the United States.

 

Neither Kia nor Apple has denied or confirmed this information, while local reports indicate that the official announcement of this matter may occur on February 17th, and the unveiling of Apple electric cars by 2024.

 

The information indicates that Apple aims to produce 100,000 cars annually in cooperation with Kia.

 

According to people familiar with the agreement, they told Bloomberg that Apple is still in the early stages of designing early cars, and their efforts need at least half a decade to produce the Apple electric car.

 

And Reuters reported last December about a new project by Apple to produce electric cars in 2024, which will include new battery technology of its own.

 

I mentioned that Apple started working in this direction since 2014, but at some point backed away from this dream, but returned to revive this project in 2018.

 

It is expected that the prices of the car will be very competitive with what is currently on the market, especially as it aspires to technology special batteries with a lower cost, capacity and better efficiency to drive longer distances.

 

Those familiar with the project are likely to include some kind of smart sensor that Apple uses in its phones.