Hyundai Motor Company is downplaying reports that it is in talks with Apple to produce an autonomous electric vehicle, stating that discussions are still in the “early stage” and still undecided. But the news of a potential tie-up (however tentative) with Apple, which is known for keeping a tight lid on deals before they are announced, was enough to send shares of Hyundai Motor Company up more than 20% on the Korea Exchange during trading on Friday.
The talks were first reported by the Korea Economic Daily and confirmed by Hyundai to Bloomberg in a statement that said “Apple and Hyundai are in discussion, but as it is at early stage, nothing has been decided.” The Korean auto giant also told CNBC that “we understand Apple is in discussion with a variety of global automakers, including Hyundai Motor. As the discussion is at its early stage, nothing has been decided.”
A Hyundai spokesperson declined to comment to TechCrunch. Apple has also been contacted for comment.