SEOUL (Reuters) – South Korean automaker Kia Corp stated on Wednesday it is reviewing cooperation on self-driving electrical vehicles with a number of overseas companies, making no point out of a report linking it to a mission with tech large Apple Inc (NASDAQ:).
Kia’s remark, issued in a regulatory submitting as its shares surged practically 20% in Seoul, got here after home on-line publication Edaily reported late on Tuesday that Kia’s dad or mum, Hyundai Motor Group, had determined Kia could be accountable for proposed cooperation with Apple on electrical vehicles. The report cited unnamed trade sources.
Hyundai Motor declined to remark. Apple was not instantly out there for remark exterior of U.S. enterprise hours.
Kia’s listed sister firm Hyundai Motor Co stated earlier this month it was in early talks with Apple, after native media reported the companies have been discussing an electrical automotive and battery-tie up, sending Hyundai shares up practically 25%. Apple declined to remark on the time.
In December, Reuters reported that Apple was shifting ahead with self-driving automotive know-how and was aiming to provide a passenger automobile that might embody its personal breakthrough battery know-how as early as 2024.
Kia final week modified its company model to easily ‘Kia’ from ‘Kia Motors’ in what it stated was a part of a brand new technique geared toward taking the corporate “past automobile manufacturing to create sustainable mobility options”, with out offering particular particulars of latest tasks.
“Altering our company identify and brand will not be solely a beauty enchancment,” stated Kia President Tune Ho-sung. “It represents us increasing our horizons and establishing new and rising companies that meet and exceed the various wants of our clients worldwide.”
Shares in Kia have been up 8.2%, whereas shares in Hyundai Motor have been down 0.6% of 0254 GMT, in contrast with a 0.3% rise within the wider market.
Fusion Media or anybody concerned with Fusion Media won’t settle for any legal responsibility for loss or injury because of reliance on the knowledge together with knowledge, quotes, charts and purchase/promote alerts contained inside this web site. Please be totally knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is among the riskiest funding kinds attainable.