AAPL - Apple analysts praise 'most significant investment' as Hyundai-Kia Car reports grow

Earlier this week, noted Apple (AAPL) analyst Ming-Chi Kuo said the tech giant would team up with Hyundai (HYMLF) and its subsidiary Kia for production assistance on the Apple Car.Late yesterday, CNBC sources confirmed that Apple is close to finalizing a deal with Hyundai-Kia to manufacture the vehicles at a Kia plant in West Point, Georgia.Sources say Apple wanted to work with an established automaker with a North American manufacturing presence who would allow Apple to handle the software and hardware for the fully autonomous vehicle. Hyundai would want in on the deal due to its focus on mobility as the future.Local media reports and Bloomberg suggested that Apple will invest $3.6B as part of the collaboration. Apple reportedly aims to produce 100,000 vehicles annually by 2024 at the Kia plant before ramping up to 400,000 vehicles.JPMorgan analyst Samit Chatterjee notes that the production amounts represent less than 1% and 3% of the global luxury

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Apple analysts praise 'most significant investment' as Hyundai-Kia Car reports grow