The iCar rumors are heating up again: Kia is reportedly seeking partners to help build fully electric, fully autonomous Apple cars at its West Point, Georgia, factory.
The backstory: Apple started its secretive Project Titan in 2014 to create an Apple Car, but later sought out partnerships with companies that have, you know, made stuff that doesn’t just fit in a carry-on. Apple’s talked about a vehicular team-up with at least six automakers, according to Nikkei.
What’s in it for Apple?
1) A manufacturing partner in Hyundai-Kia that has the auto supply chain and engineering expertise Apple lacks.
2) Morgan Stanley analyst Katie Huberty explained in a research note that smartphones are a $500 billion market while mobility is worth $10 trillion. “So Apple would only need a 2% share of this market to be the size of their iPhone business.”
When these two brands go out for dinner, how will they split the bill? According to CNBC’s sources, the Kia x Apple collab will be an “Apple Car,” not a Kia Soul with Apple Maps.
Looking ahead…reports indicate that the first Apple Cars could go into production as soon as 2024. But no agreement has been reached just yet, and Bloomberg wrote last night that talks have recently paused.
