Hyundai and Kia shares plummet after talks with Apple end
Hyundai’s reluctance to work with outsiders could be behind failed electric vehicle plan
08 February 2021 - 16:57
Seoul — South Korea’s Hyundai said on Monday it is not now in talks with Apple on autonomous electric cars, just a month after it confirmed early-stage talks with the tech giant, sending the carmaker’s shares skidding.
Wiping $2.4bn off its market value, Hyundai stock slumped 4.3% by 4.28am GMT. Shares in its affiliate Kia Corporation, which had been tipped in local media reports as the likely operational partner for Apple, tumbled 12.8%, a $4.7bn hit...
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