The long-rumored Apple Car may finally become reality if reports of a partnership with Kia are true. But we’ve been here before.
Summary
Tech giant Apple is rumored (again) to be getting in the automobile market, as Hyundai subsidiary Kia is reportedly joining Apple in a venture to produce the long-talked-about electric vehicle Apple Car.
- Some reports conflict Kia’s involvement, saying multiple Japanese automakers have been approached, all of whom are reluctant to partner with Apple given their demanding supply-chain standards.
- Despite no announcement from Apple or a auto industry partner, Apple is apparently hoping to have a vehicle ready for production lines by 2024.
- Signaling what should be obvious moves into the car industry, Apple nabbed a top executive who headed engineering and chassis development for luxury auto brand Porsche.
- Rumors around Kia’s involvement also say the car will be produced at a Kia facility in Georgia.
- CNBC reported Apple’s insistence on controlling the vehicle’s software and hardware, when discussing partnerships with “established automakers.”
- CNN framed their report on Kia’s stock performance in the wake of the rumors, saying it “had its best day in more than two decades.”
- New York Times tech writer noted this isn’t the first time we’ve been hearing rumors of Apple’s auto ambitions, saying they’ve gone back and forth for more than 5 years with potential staff, partners, and engineering teams.
- Wall Street Journal’s reporting highlighted the industry-wide push for electric vehicles, which it says is sparked by “government pressure, especially in China.”
- MarketWatch said Apple could still choose to not partner with Hyundai-Kia, even after their reported $3.6 billion investment in the South Korean automaker.
- The New York Post aggregated several points of the story from other outlets while pointing out Apple’s stock price jumping on the rumors.
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© Dallas Gerber, 2021
