Hyundai does U-turn on talks with Apple about developing self-driving car
The carmaker revises its statement for the second time in a matter of hours, dropping Apple from the original statement
Seoul — Hyundai Motor backed away from a statement confirming it is in talks with Apple on developing self-driving car that fuelled an $8bn surge in the Korean automaker’s market value on Friday, saying instead that it received requests for potential co-operation from a number of companies.
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 US company, only slightly paring their gains after the statement confirming discussions was revised...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.