The report follows a press release on Friday from Hyundai Motor that it was in early talks with Apple after one other native media outlet mentioned the businesses aimed to launch a self-driving electric car in 2027, sending Hyundai shares up practically 20%.
Hyundai Motor declined to touch upon the report on Sunday, and reiterated Friday’s feedback that it has acquired requests for potential cooperation from numerous firms on growing autonomous EVs.
Apple had no rapid remark.
An up to date model of the IT information report eliminated particulars, together with manufacturing location and capability and the timeframe for signing the settlement and launching the pilot automobiles.
The earlier model mentioned the businesses deliberate to construct the automobiles at Kia Motors‘ manufacturing facility in Georgia, or make investments collectively in a brand new manufacturing facility in the USA to supply 100,000 automobiles round 2024. The complete annual capability of the proposed plant could be 400,000 automobiles.
Kia Motors is an affiliate of Hyundai Motor.
The report additionally mentioned Hyundai and Apple deliberate to launch a “beta model” of the Apple automobiles subsequent yr.
Reuters reported final month that Apple was shifting ahead with autonomous automotive expertise and aimed to supply a passenger car that might embody its personal breakthrough battery expertise as early as 2024.
Shares in Hyundai Motor rose 14.6% in morning commerce on Monday, whereas affiliate auto components maker Hyundai Mobis shares rose 12.7% and Kia shares rose 9.1% versus a 2% achieve within the wider market.