Kia reportedly will sign a KRW4 trillion (US$3.59bn) deal with Apple to build electric vehicles.
Reuters said South Korean online news outlet DongA.com had reported Apple would invest $3.6bn in Kia as they collaborated to produce Apple electric vehicles in Kia's Georgia plant, without citing any sources. The report said the deal would be signed on 17 February.
Apple will aim to produce 100,000 vehicles annually by 2024 at the Kia plant, the report said, aiming to expand that annual capacity to 400,000 at a later stage.
Apple and Hyundai declined to comment when contacted by Reuters.
Reuters reported last week Hyundai Motor Group had "tentatively decided" it would want Kia to partner with Apple, citing a Hyundai insider.