Last year, there were rumors that Korean carmaker Kia could be the company that would help Apple build their electric car. However, this did not pan out but now according to a report from ETNews, it appears that Apple is still looking towards Korea for companies to help them with their rumored Apple Car.
The report claims that Apple representatives visited South Korea in December of last year to speak with local suppliers. Keep in mind that these local suppliers are for the components needed to make the Apple Car, and not car companies like Kia. The report also goes on to claim that the potential to work with Apple has led to quite a heated battle amongst local companies, all of whom are eager to enter Apple’s supply chain.
So much so that some of them have apparently formed a dedicated task force to exclusively respond to Apple’s requests, and that Apple is tempting these companies with the potential of an equity investment if they are able to double their production capacity. Ultimately this is expected to work out for both Apple and the companies as Apple would be able to get more components, while these companies get to scale up their production.
Apple is rumored to confirm their selection of suppliers by the end of 2022 and could possibly begin mass production in the next 2-3 years.