Apple and Hyundai sign Apple Car Deal by March, with production starting in 2024

Apple and Hyundai will reach a partnership agreement for the upcoming Apple Car in March, according to a new report Reuters, citing Korea IT News.

Before it is revised, it must Korea IT News The report said the companies could produce the electric vehicles at a plant in Georgia owned by Kia Motors, a subsidiary of Hyundai Motor Group, or invest in a new plant in the United States capable of producing up to 400,000 vehicles annually. The report also stated that a “beta” version of Apple Car could be released in 2022.

Reuters reported last month that production of ‌Apple Car kan could begin around 2024, and that timeframe was reiterated again in today’s report. A production start in 2024 may be somewhat ambitious, according to reports Bloomberg said last week that the “Apple Car” is “nowhere close to the production phase” and could be ready in about five to seven years.

Rumors that Apple is negotiating with Hyundai first surfaced last week, suggesting that Apple plans to work with the automaker to produce electric vehicles and develop batteries due to the high cost of the technology and the necessary production facilities.

Hyundai initially confirmed his electric car consults with Apple in a statement to CNBC, but the statement was revised hours later with no mention of Apple.