Apple Cars Could Be Big News for Georgia Real Estate Investors
The small town of West Point, Georgia, raised its hopes for a minute when Apple (NASDAQ: AAPL), acting like a desirable bachelor in a room full of single men, walked into town. It turned out that the tech giant had just read its options.
Although the collaboration with the Kia plant at West Point (KRX: 000270) to produce an Apple car – at least for the time being – was not intended to make everything possible in the future.
Georgia raised its hopes
It was revealed that Apple is considering building self-driving electric cars at the West Point Kia assembly plant in Georgia, which is about 90 minutes southwest of Atlanta. In this case, there are new jobs and tax revenues for the residents to count on, not to mention it would be another feather in Georgia’s cap of being a technology center. (Atlanta was named the # 1 Tech Hub for 2020 by Business Facilities Magazine.)
Georgia is ready to do this type of business
While there’s no deal yet, Georgia is a great choice if Apple chooses the West Point plant to manufacture its car. The Port of Savannah in Georgia is one of the largest ports on the east coast, and Hartsfield-Jackson International Airport in Atlanta is the busiest airport in the world.
Georgia is aware of its advantages and has aggressively enlisted large corporations to expand its economic development. The tax incentives offered by the state attract many companies to settle here.
The “Apple Car”
CNBC reported that the Apple / Kia deal would consist of an Apple investment of $ 3.6 billion. Operations are scheduled to begin in 2024. The “Apple Car”, as the name suggests, would be a car with an Apple design and Apple software. It wouldn’t be a Kia with Apple parts.
The car is slated to have no designated driver’s seat and will likely be used for deliveries such as groceries to people’s homes first.
Apple is mysterious
Apple is known for its secrecy. Somehow it became known that Apple had signed a deal with Hyundai-Kia to manufacture a self-driving electric car at the West Point Kia plant. This leak was premature. Apple is not ready to announce anything. The tech giant may not work with Hyundai-Kia at all, let alone Georgia.
While news reports were on the “wrong news” side in this case, this Apple deal isn’t exactly much ado about nothing. The West Point Kia plant was under consideration – and it still could be.
The bottom line of Millionacres
Like a couple’s wrong date, Apple and Hyundai-Kia aren’t talking to each other right now. The Apple deal with the Georgia Kia plant may not go through, but Apple may re-examine that option. Apple is currently in talks with automakers around the world and the Georgia deal could only be temporarily suspended. Investors in Georgia: Look at This.