What you need to know
- A new report says talks have stalled between Apple and Hyundai/Kia.
- It is currently unclear if and when they will resume.
Recently reported talks with Apple, Kia, and parent company Hyundai over production of an Apple Car are currently paused.
As reported by Bloomberg, Apple and Hyundai/Kia's talks around partnering on the production of Apple's electric car have recently paused. According to those familiar with the discussions, Apple also has been discussing similar potential partnerships with other automakers.
This lines up with earlier reports from today that say the Apple Car could be built by a number of manufacturers and that at least six are currently in play. Another report says that even Kia is searching for other manufacturing partners in order to support the project.
Today's report from Bloomberg goes on to say that it is currently unclear when talks may resume between Apple and Hyundai/Kia. There is also apparently an internal dispute at Hyundai/Kia as to which brand will get to produce the vehicle.
There are other hitches, too. One is a dispute within the Hyundai group over which of its two brands, Hyundai or Kia, may get to manufacture a car for Apple, one of the people familiar with the situation said. If talks end up resuming, Kia is seen as more likely and is seeking to build an Apple car at its plant in Georgia, said the person.
Today's report from Bloomberg puts the brakes on a report from CNBC just a couple of days earlier, which said Apple and Hyundai/Kia were actually close to finalizing a production deal. According to an earlier report from Bloomberg, Apple could invest as much as $3.6 billion in the automaker in order to support the production of the electric vehicle.
Apple declined to comment on the report from Bloomberg.