Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Apple's plans for an autonomous electric car look less firm after South Korea’s Hyundai says no longer in talks with the tech giant

% of readers think this story is Fact. Add your two cents.


Apple Inc’s (NASDAQ:AAPL) plans for an autonomous electric car looked less firm on Monday after South Korea’s Hyundai Motor Co said it is no longer in talks with the tech giant about the project.

The announcement, just a month after the South Korean group confirmed early-stage talks with the iPhone maker, saw Hyundai’s stock slide 6% in Seoul, while shares in its affiliate Kia Corp, which had been tipped as the likely operational partner for Apple, dropped 15%.

In a statement on Monday, in compliance with Korean stock market rules requiring regular updates to investors regarding market rumours, the automakers said: “We are receiving requests for co-operation in joint development of autonomous electric vehicles from various companies, but they are at early stage and nothing has been decided,”

“We are not having talks with Apple on developing autonomous vehicles,” they added

Kia shares have jumped over 60% since Hyundai initially confirmed a local media report early in January that Apple and Hyundai were in discussions to develop self-driving electric vehicles by 2027 and develop batteries at US factories operated by either Hyundai or Kia.

As recently as last week, media outlets including CNBC reported that a deal was close to being finalised.

In a report, Reuters noted that Hyundai is traditionally known for its reluctance to work with outsiders, making engines, transmissions and even its own steel in-house in a vertically integrated supply chain as South Korea’s second-largest conglomerate.

Although shares in Kia and Hyundai had surged on news of the talks, internal opposition to becoming an Apple contract manufacturer was considerable, according to people familiar with the matter, Reuters added.

Apple, which is known to keep product plans under tight wraps, has never acknowledged talks with the Korean automaker about building vehicles.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/940648/apple-s-plans-for-anautonomous-electric-car-look-less-firm-aftersouth-koreas-hyundai-says-no-longer-in-talks-with-the-tech-giant-940648.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.