[psankar]

SEOUL/SAN FRANCISCO (Reuters) - South Korea’s Hyundai Motor Co said on Friday it was in early, unspecified talks with Apple after a local broadcaster said the pair were discussing an electric car and battery tieup, sending Hyundai shares surging 24%.“Apple and Hyundai are in discussions but they are at an early stage and nothing has been decided,” Hyundai said in a statement without saying what the talks were about.

Apple declined to comment.

More at: https://www.reuters.com/article/us-h...-idUSKBN29D02E

Mods, please merge with appropriate thread.

[Nikhildrao]

Makes sense to partner with a legacy automaker such as Hyundai, this way apple won't have to be stuck in production hell as Elon quoted. Apple has the tech and money to pull this off, while Hyundai have the capacity to manufacture at scale so that there are no bottle neck that grind production to a halt.

[vb-saan]

More on this - the article says two companies are planning to sign a partnership for self-driving electric cars by March 2021, and production would start at Kia’s factory in the state of Georgia, with roughly 100,000 EVs rolling off the line as soon as 2024.

https://www.engadget.com/hyundai-app...162209202.html

[The Rationalist]

Hope Apple implement the quality of thier own products if they are partnering with Hyundai. Apple has made a name on back of the quality and stability of its products, it takes a day to destroy your reputation and a lifetime to make one, they better remember that.

[xjosephjacob]

Always wondered why Apple weren't really getting associated with the car business when Samsung was already making some progress with Renault. Now that connected-cars, driver-less cars and electric are best loved flavors of the automotive industry, I see more of these relationships coming up in the next few years. Mobility could be very different in 2027.

[GTO]

Mod Note: Thread moved to the EV forum. Thanks for sharing!

[volkman10]

Top executives at Hyundai have expressed concerns about a possible relationship with Apple.

Executives in Hyundai Motor Co Group are divided over a potential tie-up with Apple Inc, with some raising concerns about becoming a contract manufacturer for the U.S. tech giant, dimming the outlook for a deal.

Concerns:

Tech firms like Google and Apple want us to be like (contract phone maker) Foxconn.

A cooperation may initially help raise the brand image of Hyundai or Kia. But in the mid- or longer-term, we will just provide shells for the cars, and Apple would do the brains

The Group is concerned that the Hyundai brand would become just Apple’s contract manufacturer, which would not help Hyundai in its effort to build a more premium image with its Genesis brand

Link

[veyron_head]

It's a 3.6 billion USD investment. I am pretty curious to see what innovation this auto-tech marriage will bring in!

Source: https://www.bloombergquint.com/busin...evs-donga-says

[Venkatesh]

Hyundai Motor and Kia Motors said, they are not in talks with Apple to develop an autonomous vehicle.

Hyundai Motor shares fell 6.21% in South Korea on Monday while Kia Motors shares plunged about 15%.

Chung explained that it was still possible for both sides to revisit the deal at a later date as Hyundai said in its regulatory filing it was in talks with multiple companies.

"I wouldn't say that this is the end of it, I would say it's a temporary halt if you like for the negotiation between the two groups," he said.

Source

[wheelguy]

S.Korea bourse to review Hyundai officials' trades after Apple deal reports.

Shares of Hyundai jumped 21% between its initial confirmation of talks on autonomous vehicles between the two firms and an announcement last week that the talks were off.

Since the Jan. 8 initial domestic media report of their cooperation, 12 Hyundai executives traded about 3,400 shares, worth about 833 million won ($753,000), according to Reuters calculations based on the company's regulatory filings. ($1=1,106.14 won) (Reporting by Joyce Lee and Heekyong Yang; Editing by Clarence Fernandez)

SEOUL: South Korea's stock exchange will begin a review next week to examine if executives of Hyundai Motor may have used undisclosed information to trade shares following reports of a tie-up with Apple, an exchange spokeswoman said.

Shares of Hyundai jumped 21% between its initial confirmation of talks on autonomous vehicles between the two firms and an announcement last week that the talks were off.

Earlier on Wednesday, top financial regulator Eun Sung-soo, the chairman of the Financial Services Commission (FSC), told a parliament committee the exchange review could begin next week.

"Reviews are to examine whether there is any suspicion (of wrongdoing) or not," the spokeswoman told Reuters by telephone, adding, "The length of such reviews varies with each case, and the exchange will communicate findings to the FSC."

Hyundai did not have an immediate comment when reached by Reuters.

In a filing last week, the company said it was not in talks with Apple on autonomous vehicles, just a month after having confirmed early-stage talks with the tech giant.

Source