Potential Apple-Kia Electric Car Deal Not Dead Just Yet, Report Says
Apple’s apparent electric car deal with South Korea’s Kia isn’t dead yet, according to a local report.
Reuters says South Korean publication Chosun Biz reported on Friday both Apple and Kia’s negotiations on electric cars have not been completely cancelled just yet. Both companies apparently signed a memorandum of understanding (MOU) in 2020 to work together in eight areas, which included electric cars.
“Even if the negotiations on electric vehicles fail, there are many items that can be negotiated in other fields, so we are still optimistic about the possibility of partnership between the two sides,” reported Chosun, relaying information from an unnamed source familiar with the negotiations.
Chosun reports both Apple and Kia are also negotiating “last mile” transport, or the final distance to a destination, such as an Amazon package heading to your home from a delivery centre.
CNBC similarly reported on “last mile” possibilities, in regards to Apple’s car plans, earlier this month. “These will be autonomous, electric vehicles designed to operate without a driver and focused on the last mile,” said CNBC.
The Chosun report counters what was reported in the first week of February by the Wall Street Journal, pointing out regulatory filings by both Hyundai and Kia disclosed talks with Apple in regards to an autonomous vehicle weren’t happening anymore.
The news of Apple-Kia car talks still possibly ongoing sent shares of Kia Corp up over 8% on Friday.