Monday, February 08, 2021
By Kamal Swami
Hyundai – Apple Talks On Electronic Autonomous Cars Discontinued
The talks between two legendries auto giant Hyundai Motors (and its affiliate Kia Group) and techno mammoth Apple Inc on developing autonomous electric car have unfortunately come to an end. Both the groups had the first-round talks almost a month ago. According to the media reports the shares of Hyundai Motors felt by 4.2% while the shared of Kia Motors felt to 12% after the news regarding the collapse of this partnership.
According to the sources of Hyundai Motors, “We are receiving requests for cooperation in the joint development of autonomous electric vehicles from various companies, but they are at an early stage and nothing has been decided." It would be interesting to know that the shares of Kia Motors recorded the hike of 61% after its parent company Hyundai Motors announced its collaboration with the US techno key-leader Apple Inc for developing the self-driving electric cars. Both the groups were planning to launch the self-driving electric vehicles by 2027 and manufactured the batteries at the production unit of Hyundai Motors located in the United States of America.
Industry experts believed that the main reason behind the termination of this joint-venture had been the disclosure of the plans among the masses or limiting the role of Korean carmaker stagnated to only the vehicle manufacturer, and not in making the strategy. On the other side, US group Apple Inc, which is recognized for retaining its privacy had never spoken about any such talks with the Hyundai Motors and therefore was not able to comment immediately on the matter.