Apple is close to concluding a deal with the Korean company Hyundai-Kia to manufacture an electric autonomous car bearing the Apple brand, after years of speculation that it will eventually enter the auto industry with its own car.

The car dubbed the Apple Car, which is being developed by a team at Apple and will be assembled at Kia's assembly plant in Georgia, is tentatively set to begin production in 2024, although people familiar with the talks between Apple and Hyundai are slated to begin production. -Kia "They say its final offering may be postponed.

Sources told CNBC that no agreement had been reached between the two companies, and confirmed that Apple might eventually decide to launch a partnership with another car maker separately or in addition to working with Hyundai.

"I doubt Hyundai-Kia is the only car maker they can do a deal with, and there might be another party," says one of the sources familiar with the company's strategy.

If the agreement is completed, the important question is what is the interest of the two companies in concluding this deal?

Insiders say that each company sees a unique benefit in working with the other to develop the new vehicle.

For Apple, the decision to manufacture the car opens up the potential to tap into a $ 10 trillion global auto market.

Morgan Stanley analyst Katie Huberty outlined Apple's profit potential in a research note released in January.

Apple owns about a third of the smartphone market estimated at $ 500 billion annually, and the company only needs a 2% share of the auto market to get income the size of the iPhone, which is Apple's best-selling product.

Sources familiar with Apple's interest in working with Hyundai-Kia say that the tech giant wants to build an "Apple Car" in North America with a car manufacturer willing to allow Apple to control the software and hardware that will enter the car.

In other words, this will be an "Apple car", not a "Hyundai-Kia" car that offers Apple software.

An Apple car will be assembled at the Kia assembly plant in Georgia (social networking sites)

As for Hyundai-Kia, the work with Apple was driven by the new chairman of the board of directors, Eichung Chung, who took over the management of the Korean carmaker last October, according to a source familiar with the strategy of "Hyundai-Kia". Aichen explained that mobility is the future of the company.

By working with Apple, Hyundai-Kia leaders believe they will accelerate the development of their own plans for autonomous, electric and combined cars.

The company is currently partnering with Aptiv, a British-American auto parts maker, in a joint venture to develop autonomous vehicle technology, including Robotaxis.

There is no indication that the joint venture will change if Hyundai reaches an agreement with Apple.

Additionally, the Kia plant is 90 minutes southwest of Atlanta, Georgia and has the capacity available, so production and supply chain utilization can be expanded rapidly.

While it's still unclear exactly what Apple's first car will look like, those familiar with the plans say there are some notable features.

"The first Apple cars will not be designed to have a driver, and these will be autonomous electric vehicles designed to operate without a driver," said one of the sources familiar with the current plan. This could mean that Apple cars, at least initially, could focus on deliveries. Food and for companies that use robots.

The move could lead the tech giant to enter direct competition with Tesla, which is offering autonomous driving features for its vehicles.

Tesla CEO Elon Musk recently told investors that converting Tesla to self-driving robotic cars could help evaluate the company, as the cars will be used for more hours per day, allowing Tesla to earn higher revenues per vehicle.

In 2018, Apple lured Doug Field, senior vice president of engineering at Tesla, to return to Apple, where he previously worked, most likely to work on self-driving cars.

It also hired a large number of former Tesla employees, including Michael Schwachs, senior director of engineering for Apple's Special Projects Group and former Tesla vice president of engineering.

Musk said earlier that he had once tried to start talks with Apple about the acquisition of his electric car company, but Apple CEO Tim Cook refused to meet him.