Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Apple and Kia were previously reported to be teaming up to build the Apple electric car, but there was no follow-up information since then. This week, a local Korean newspaper published an article about the plans for partnership, and it was said that the two companies are finally close to sealing the deal.
Apple and Hyundai/Kia’s agreement
This means that Apple and Kia’s collaboration is pushing through, and once the contract is finalized and duly signed, they will begin building the Apple Car that has long been speculated.
A source told CNBC that the deal is now in the final stage, and this team-up is expected to produce a line of Apple brand autonomous EVs that will be manufactured at the Korean carmaker’s assembly plant located in Georgia, U.S.A.
For years the rumor about the Apple car has been going around, and it was only last month when Hyundai/Kia automotive group confirmed that they are in touch with Apple, but the reason for this was not divulged. Since then, it was rumored that Kia will be helping the American tech company with its venture and entrance into the electric car-making business.
Now that the Apple and Kia partnership is confirmed to go ahead, CNBC further noted that the Korean paper mentioned that the production of Tim Cook’s company’s first EV will begin in 2024. The deal between the two firms is said to worth around $3.6 billion.
Apple continues to negotiate with other automakers
Then again, despite the collaboration with Kia, it was reported that Apple is still talking to other carmakers and negotiating to have many sources. Still, Kia/Hyundai will remain the primary partner in the Apple car project.
The one that Apple will build is a completely autonomous one. Together with Kia, they will build a vehicle that doesn’t need a driver.
“Apple Cars will not be designed to have a driver,” the insider revealed. “These will be autonomous, electric vehicles designed to operate without a driver and focused on the last mile.”
Meanwhile, Reuters reported that the news about the tie-up with Apple sent Kia’s shares racing upward. The 14.5% increase was the company’s highest since 1997, so it appears that the partnership is a good investment for both sides.
