Wednesday, June 19, 2024
NewsHyundai Says Not in Talks With Apple Over Autonomous Vehicles

Hyundai Says Not in Talks With Apple Over Autonomous Vehicles

Bite taken out of Apple and Hyundai deal

  • Hyundai confirmed conversations with Apple in Janary, but deal seems to have crumbled

  • Statement comes from South Korean regulatory filing


Once again it’s the Apple Car at the top of the news, this time Hyundai Motor Company is saying that no, it isn’t in talks to develop an autonomous car with Apple. The news has sent shares in both automakers down sharply in response to a build-up over the last few weeks.

Reports last week said that the Apple Car would be built by Kia at the automaker’s plant in Georgia. That after reports from shortly before saying that it would be built by Hyundai. Hyundai confirmed it was in negotiations with Apple early last month. After the Hyundai news, Apple was said to have been upset by the leak, as the tech firm is known for being extremely secretive about future product.

As a publicly traded company in Korea, Hyundai Motor Group is required to issue regulatory filings about rumours that are driving the price of its stock. In one of those regulatory filings made over the weekend, HMG said that it had received “requests for cooperation” from companies looking to develop self-driving electric vehicles.

“We are not conducting consultations with Apple on the development of autonomous vehicles,” said HMG in the filing, according to a translation.

While that was enough to send shares dropping, the statement says that they’re not working on autonomous vehicles. It doesn’t seem to rule out conventional electric vehicles, such as those set to be built on Hyundai’s upcoming E-GMP electric platform, so we anticipate more reports of dealings between the two companies to come.

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