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Apple and Hyundai close to signing for partnership

Hyundai and Apple are very close to signing a partnership agreement on driverless electric cars. With the agreement to be signed, production is planned to start in the USA in 2024.

Hyundai Motor and Apple jointly plan to sign a contract for the production of driverless electric vehicles in March.

In the report of Korea IT News, it was stated that the partnership is planning to start production in the USA in 2024.

In the new factory to be built in the USA, 100 thousand vehicles will be produced in 2024. It is stated that the full capacity of the facility will be 400 thousand vehicles.

On Friday, Hyundai announced that Apple had forecasts on this issue. And the company’s shares gained 20 percent after the announcement.

Hyundai shares rose 14.6 percent in the morning transactions, while Hyundai Mobis, Hyundai’s auto parts subsidiary, rose 12.7 percent. Kiya shares are traded at 9.1 percent plus South Korean stock exchanges are at 2 percent.

Written by Maraaz

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