The Kia stocks are definitely going through their best period in over two decades as quite a few media outlets in South Korea have reported the car deal they have had with Apple. The shares of the automobile company did end up at 9.7% in Seoul last Wednesday. Kia also reached a landmark 97,700 Korean won per share- which has been the highest this company has reached since 1998. According to Dong-a Ilbo, the stocks of Apple would be investing about $3.6 billion in Kia to start up a new partnership that would help create a newer vehicle.
Kia Stocks Have Skyrocketed Ever Since Apple Showed Their Interest In It
Interestingly, CNN couldn’t find any verified sources regarding this report. Kia and Hyundai both refused to comment when interviewed- while the giant software company too refused to comment. As reported by the Korean newspaper, Kia stocks are gearing up to start building cars in Georgia- all under the ownership of Apple. The initial target has been set at 100,000 cars for the first year. Yet another report claims that the capacity could be increased to around 400,000 cars.
In a final touch, the Korean newspaper mentioned that both Kia Stocks and Apple Stocks could arrive at a deal by the 17th of February- where the final goal would be to bring out cars by 2024.
Interestingly, this doesn’t come as a surprise to Korean markets as Apple’s interest in working with the auto industry in this East Asian country has been well-documented. Just the previous month, Hyundai claimed to have discussions with Apple to create better electric cars. Shockingly, just the news sent the shares of Hyundai spiraling upwards- to land on their best record in the last couple of decades. Now, Hyundai is definitely going to build up the Kia stocks in order to work with other giants in the field of autonomous driving.