deal

Apple is reportedly nearing a deal to build its autonomous electric car with Hyundai



Tim Cook wearing a suit and tie: Apple is nearing a manufacturing deal with Hyundai Motor Group, CNBC reported. Karl Mondon/Digital First Media/The Mercury News via Getty Images


© Karl Mondon/Digital First Media/The Mercury News via Getty Images
Apple is nearing a manufacturing deal with Hyundai Motor Group, CNBC reported. Karl Mondon/Digital First Media/The Mercury News via Getty Images

  • Apple and Hyundai are nearing a deal to build an electric car together, CNBC reported Wednesday. 
  • The Apple-branded car would be built at Kia’s plant in Georgia, the outlet reported. 
  • Sources told CNBC that the deal wasn’t done and Apple may partner with another automaker.
  • Visit the Business section of Insider for more stories.

Apple is nearing a deal with Hyundai Motor Group to build a self-driving electric vehicle of its own, CNBC’s Phil LeBeau and Meghan Reeder reported Wednesday, citing multiple sources familiar with the project.

Loading...

Load Error

If finalized, the EV would be Apple-branded and built at Kia’s assembly plant in West Point, Georgia, CNBC reported. 

Sources told the outlet the deal wasn’t done yet

Read More

Apple nearing deal with Hyundai-Kia for branded car: report

Apple and Hyundai-Kia are nearing a deal for Hyundai-Kia to manufacture Apple cars at an assembly plant in Georgia, CNBC reported Wednesday.



a glass display case: apple inc tim cook automated self-driving car tesla waymo cruise safety roads 2026 launch project titan


© iStock
apple inc tim cook automated self-driving car tesla waymo cruise safety roads 2026 launch project titan

The “Apple Car” would be a completely autonomous electric car and would be manufactured in West Point, Ga., at a Kia plant if the deal closed, according to CNBC.

People familiar with the matter told CNBC that Apple has been working on this car for a while and hopes to have its roll out in 2024. However, Hyundai-Kia still might not be the car company Apple pairs with.

Apple could go with another company since the deal has not been finalized or work with Hyundai-Kia along with another company.

Although the look of an “Apple Car” has not been released, a source provided a description of the car.

Read More

Apple and Hyundai-Kia pushing toward deal on Apple Car

  • Apple is close to finalizing a deal with Hyundai-Kia to manufacture an Apple-branded autonomous electric vehicle at the Kia assembly plant in West Point, Georgia, sources tell CNBC.
  • According to one source familiar with Hyundai-Kia strategy, “Chung has made it clear, mobility is the future of the company.”  That’s important because the Apple Car will be fully autonomous. 
  • Sources familiar with Apple’s interest in working with Hyundai say the tech giant wants to build the “Apple Car” in North America with an established automaker willing to allow Apple to control the software and hardware that will go into the vehicle.    

Apple nears deal to make autonomous vehicles with Hyundai-Kia

UP NEXT

UP NEXT

After years of speculation that it will eventually get into the auto business with its own vehicle, Apple is close to finalizing a deal with Hyundai-Kia to manufacture an Apple-branded autonomous electric vehicle at the Kia

Read More

CNBC: Apple and Hyundai nearing Apple Car deal, first version will ‘not be designed to have a driver’

Following an earlier report today from the Korean newspaper DongA, CNBC now corroborates the partnership between Apple and Hyundai/Kia Motors. According to the new report, both companies are close to finalizing a big deal that will lead to the manufacture of the long-rumored “Apple Car.”

Last month, Hyundai Motor confirmed that the company was in talks with Apple, although it did not reveal the reasons behind it. At that time, rumors suggested that Kia Motors — which is owned by Hyundai — would help Apple manufacture the first Apple Car.

A new report from CNBC says the Apple Car will be manufactured at a Kia facility in West Point, Georgia. Apple and Hyundai are close to sealing a deal, which could be worth about $3.6 billion, according to a Korean newspaper. If the rumors are right, the production of Apple’s first electric vehicle will begin in 2024.

However,

Read More

Apple Car By 2024? Hyundai, Kia Stocks Surge As Apple Deal Closes In

KEY POINTS

  • Shares of Hyundai and Kia surged as a potential deal with Apple to build electric vehicles emerges
  • The $3.59 billion deal is expected to be finalized on Feb. 17
  • The first Apple Car will most likely be self-driving, or autonomous

Shares of South Korean automakers Kia and parent company Hyundai surged Thursday after news of a potential deal with Apple to manufacture autonomous electric cars. 

Hyundai and Kia saw their shares rise by 1.22% and 0.31%, respectively, in the Thursday morning trade after it was revealed both were close to finalizing the $3.59 billion deal with Apple to produce electric vehicles at the Kia assembly plant in Georgia. 

A South Korean news outlet said Apple and the two car manufacturers are expected to sign the deal on Feb. 17. 

The agreement comes after years of speculation about whether the game-changing tech company known for its iPhones, iWatches and

Read More

How to hunt down a used-car deal from a rental company like Hertz, Enterprise during coronavirus

As Hertz offers to sell thousands of its cars at steep discounts and millions of Americans face financial uncertainty due to coronavirus, now might be a good time to hunt for bargains from rental car companies. 

“There are definitely good deals out there,” said Rick Ricart, president of the pre-owned vehicle dealership Ricart Automotive in Ohio. “Rentals are down, and rental car companies might be getting aggressive to cut their losses.”

But there are also things to look out for. 

Pouncing on a used-car deal just because you see an alluring price could leave you in a financial bind down the line. And with cases of COVID-19 ticking up, buyers should take extra precautions before taking off in a car previously driven by dozens or even hundreds of other people. 

­

Here’s how to smartly and safely find a used-car deal from a rental company in the age of COVID-19:

Read More