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Hyundai Motor says it is in early talks with Apple, shares surge 24%

08 Jan,2021
<p style="text-align: center;"><img title="1610076295649349.jpg" alt="7.jpg" src="/ueditor/php/upload/image/20210108/1610076295649349.jpg"/></p><p>Hyundai Motor&nbsp;Co said it in was in early discussions with Apple after Korea Economic Daily TV reported that the two were in talks to cooperate on electric&nbsp;cars&nbsp;and batteries, sending&nbsp;Hyundai&#39;s shares surging 24%.<br/><br/>&quot;Apple and Hyundai are in discussions but they are at an early stage and nothing has been decided,&quot; Hyundai Motor said in a statement. The company did not give details about the nature of the talks with Apple and did not mention whether the cooperation involved electric vehicles.</p><p><br/></p><p>In December, Reuters reported that the Apple is moving forward with self-driving car technology and is aiming to as early as 2024 produce a passenger vehicle that could include its own breakthrough battery technology.<br/><br/>The two companies work together on&nbsp;CarPlay, Apple&#39;s software for connecting iPhones to vehicles from a variety of automakers.<br/><br/>The Korea Economic Daily TV said on Friday that Apple and Hyundai Motor Group were negotiating and that the companies were expected to develop batteries at either Hyundai&#39;s or its affiliate Kia Motors Corp&#39;s factories in the United States.<br/><br/>Shares in Hyundai Motor jumped as much as 23.8%, hitting a more than seven-year high of 255,000 won ($232.56), while auto parts maker Hyundai Mobis Co Ltd jumped nearly 30%.<br/><br/>The broader KOSPI market was up 1.9% as of 0132 GMT.</p>
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