Hyundai says in early talks with Apple after electric vehicle tie-up report

SEOUL (Reuters) -South Korea’s Hyundai Motor Co said on Friday it was in early talks with Apple, after local media reported the firms were discussing an electric car and battery tie-up, sending Hyundai shares surging 25%.

The report comes weeks after Reuters reported that Apple was moving forward with self-driving car technology and was aiming to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.

Earlier on Friday, Korea Economic Daily TV said the iPhone maker and Hyundai were in discussions to develop self-driving electric vehicles by 2027 and develop batteries at U.S. factories operated by either Hyundai or its affiliate Kia Motors Corp. The broadcaster didn’t cite sources.

“Apple and Hyundai are in discussion, but as it is early stage, nothing has been decided,” Hyundai said in a statement. It didn’t say what the talks were about and omitted a reference in an earlier statement to Apple being in discussions with other global automakers as well as Hyundai.

In a regulatory filing issued later, the automaker said it was “getting requests for cooperation on joint development of autonomous electric vehicles from various companies”, without identifying any of them. Read More

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