Apple and Hyundai-Kia are close to finalising a deal to produce an Apple-branded autonomous electric vehicle at the Kia assembly plant in America.

American broadcaster CNBC quotes a source telling reporters the vehicle will be fully autonomous and that Apple wants to work with an established automaker willing to allow Apple to control the software and hardware that will go into the vehicle.

The report says those familiar with the discussions say each company sees a unique benefit in working with the other to develop an Apple car.

For Apple, the decision to build a car opens the potential to tap a global auto and mobility market valued at $10 trillion, for For Hyundai-Kia, working with Apple is being driven by the company’s new chairman, Euisun Chung, who has “made it clear, mobility is the future of the company.”

(Pictures – Apple and Hyundai logos)