Cover Apple's electric vehicle may be available as early as 2024. (Photo: Getty Images)

The autonomous Apple-branded electric vehicle is expected to hit the consumer market as soon as 2024

Between our smartphones, desktop computers, earbuds, and fitness trackers, it’s pretty safe to say that Apple has set the standard on simplifying and streamlining the way many of us conduct our day-to-day lives.

And, as it turns out, the California-based tech company may be working on something a little bigger to make our lives even more streamlined: an autonomous electric vehicle.

According to a recent report by Bloomberg, Apple is currently finalising a US$3.6 billion deal with Korean automaker Hyundai-Kia that will allow the two power players to collaborate on a cutting-edge, Apple-branded electric vehicle.

The news comes after Kia affiliate Hyundai Motor Company issued a statement explaining that it was in talks with Apple about a potential autonomous EV collaboration. The statement, according to Bloomberg, pushed the Hyundai stock up almost 20 percent in a single day.

Korean media outlet Donga reports that the tech giant plans to “build Apple cars” in the United States, after setting up initial production at the Kia facility in Georgia. The vision was reportedly proposed by Hyundai Motor Group, which had previously expressed interest in developing hydrogen cars, electric cars, and even flying cars; a match made in heaven for Apple as it seeks further innovation.

The collaborative project is expected to aim for an initial target of 100,000 vehicles per year, which are expected to become available to the public as soon as 2024 and while we’re still waiting on more information in terms of exactly what the California tech giant and Korean automaker have up their sleeves, it’s expected that further details will be released when the deal is signed on February 17.

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