SEOUL (Reuters) – South Korean automaker Kia Motors Corp. said Wednesday that it is reviewing cooperation on self-driving electric cars with several foreign companies, not to mention a report linking it to a project by tech giant Apple Inc.
Kia’s comment, expressed in a management filing as its shares were up nearly 20% in Seoul, came after Edaily’s domestic online publication reported late Tuesday that Kia’s parent , Hyundai Motor Group, has decided that Kia would be in charge of a proposed collaboration with Apple on electric cars. The report cited anonymous business sources.
Hyundai Motor declined to comment. Apple was not immediately available for out-of-hours U.S. business ideas.
Earlier this month the Kia Hyundai Motor Co. registered sister company said it was in early talks with Apple, after local media reported that the companies were talking about an electric car and a battery connection, which Hyundai shares rose nearly 25%. Apple declined to comment at the time.
In December, Reuters reported that Apple was moving forward with self-driving car technology and was aiming to introduce a passenger vehicle that could include the its own rechargeable battery technology as early as 2024.
Shares in Kia rose 7%, while shares in Hyundai Motor were down 2.7% from 0140 GMT, compared to a 0.3% fall in the overall market.
Reciting with Joyce Lee and Heekyong Yang; Edited by Tom Hogue and Kenneth Maxwell