Jan. 8 (UPI) — Hyundai Motor Co. stated Friday it’s within the early levels of talks with tech big Apple to collectively develop and produce a self-driving electrical automobile.
A press release from the South Korea automaker stated Apple approached them about working collectively not solely about making a automobile collectively, but additionally rechargeable batteries used for electrical autos. Hyundai stated it’s contemplating the proposal.
“We perceive that Apple is in dialogue with a wide range of international automakers, together with Hyundai Motor,” a Hyundai consultant advised CNBC. “Because the dialogue is at its early stage, nothing has been determined.”
Hyundai’s feedback was a clarification from earlier statements that prompt the 2 had been at the moment negotiating phrases for an settlement. Bloomberg reported it might take not less than 5 years to launch a joint automated electrical automobile.
Hyundai is a minority proprietor of fellow South Korea automaker Kia. Mixed, the 2 firms are the fifth-largest auto producer on the earth.
Shares for Hyundai Motor and affiliate Hyundai Wia and Hyundai Mobis all rose round 20% in South Korea on information of the doable three way partnership with Apple.