NEW DELHI: After years of venture into the world of smartphone technology, Apple Inc. is close to finalizing a deal with Hyundai-Kia to manufacture an Apple-branded autonomous electric vehicle at the Kia assembly plant in West Point, Georgia.
According to multiple sources who briefed CNBC on the plan, the so-called "Apple Car," which is being developed by a team at Apple, is tentatively scheduled to go into production in 2024.
Notably, hours after the news, Apple shares rose more than 2%.
For those hoping to get their hands on their very own Apple car, the report brings some bad news.
The vehicle is reportedly said to be built without a driver's seat or controls. Sources told CNBC that Apple wants an electric, autonomous vehicle to hop on the mobility trend. You might not be able to buy an Apple vehicle, but you could hail one for an autonomous trip around town.
While a deal is reportedly close to being completed, there's still the chance that Apple could change its mind and go with another automaker or even just pull back from the automotive world and work on its Apple car in secret for a few more years before entering the field.
This is a developing story.