Shares of Hyundai Motors Co. climb more than 20% on potential EV deal with Apple – TechCrunch

Hyundai Motor Company Talking about the report that he is conversing with Apple To produce an autonomous electric vehicle, saying that the discussion is still in the “early stage” and still unspecified. But news of a possible tie-up (albeit temporary) with Apple, known for keeping a tight lid on deals before it was announced, was enough to send shares to Hyundai Motor Company More than 20 On the Korea Exchange during trading on Friday.

The talks were first reported by the Korea Economic Daily and confirmed by Hyundai Bloomberg A statement said that “Apple and Hyundai are in discussion, but as it is in its early stages, nothing has been decided.” Korean auto giant also told Cnbc “We understand that Apple is in discussions with several global automakers, including Hyundai Motor. As the discussion is in its early stages, nothing has been decided.”

A Hyundai spokeswoman declined to comment on TechCrunch. Apple has also been contacted for comment.

last month, Reuters Reported that Apple’s car initiative, called Project Titan, is still ongoing with plans to develop an autonomous electric passenger vehicle. But the car is not expected to be launched by 2024.

In August 2020 Hyundai launched its own electric vehicle brand, Ioniq, with plans to market three all-electric vehicles over the next four years, in line with its strategy to sell one million battery-powered electric vehicles and take a 10% share Under. EV market by 2025. Hyundai has a joint venture with Autonomous Driving Technology Company Aptiv, which by 2022 is available for Level 4 and Level 5 production-ready-self driving systems Robotaci, Fleet operators and automakers. The Aptitude Partnership was announced in 2019. .