Hyundai Walks Back Confirmation It’s in Talks Over Apple Car
Bloomberg 1/8/2021 Kyunghee Park
(Bloomberg) Hyundai Motor Co. backed away from a statement confirming it is in talks with Apple Inc. on developing self-driving car that fueled an $8 billion surge in the Korean automaker’s market value Friday, saying instead that it received requests for potential cooperation from a number of companies.
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Revising its statement for the second time in a matter of hours, Hyundai said it had been contacted by potential partners for the development of autonomous electric vehicles, removing any reference to Apple. Shares of Hyundai surged 19% after Korean media initially reported on talks with the U.S. company, only slightly paring their gains after the statement confirming discussions was revised.
Hyundai Motor Co. backed away from a statement confirming it is in talks with Apple Inc. on developing self-driving car that fueled an $8 billion surge in the Korean automaker’s market value Friday, saying instead that it received requests for potential cooperation from a number of companies.
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Hyundai backed away from a statement confirming it is in talks with Apple on developing a self-driving car that fueled an US$8-billion surge in the Korean automaker’s market value Friday, saying instead that it received requests for potential cooperation from a number of companies.
Revising its statement for the second time in a matter of hours, Hyundai said January 8 it had been contacted by potential partners for the development of autonomous electric vehicles, removing any reference to Apple.
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