Industry
South Korean automaker Kia said in a regulatory filing Wednesday that it is reviewing cooperation on its self-driving electric vehicle (EV) business with several foreign companies, but nothing has been decided.
PHOTO FILE: The Kia Motors logo is seen on the wheel of its Carnival car at India Auto Expo 2020 in Greater Noida, India, February 5, 2020. REUTERS / Anushree Fadnavis / File Photo
SEOUL: 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, made out in a management filing as its shares surrendered nearly 20per percent 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 Kia Hyundai Motor Co. registered sister company said they were 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 are up nearly 25per percent. 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 went up 7per percent, while shares in Hyundai Motor were down 2.7per percent from 0140 GMT, compared to a 0.3per fall in the broader market.
(Reporting by Joyce Lee and Heekyong Yang; Editing by Tom Hogue and Kenneth Maxwell)