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Apple will take an equity stake in Kia Motors, and will build a manufacturing facility for the autonomous electric Apple Car car in Georgia, according to South Korean media. Production is expected in 2024.
This is the latest in a series of news and rumors circulating around Apple and the Hyundai Corporation. Specifically, Kia was selected to protect the Hyundai brand as an independent manufacturer.
Kia shares are up significantly on the rumors.
Official announcements are expected within the next 2 weeks.