Article Hero

Hyundai is in preliminary talks with Apple to develop a car

1610103150.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
27 Januar 2021
The end of the week comes with news from the tech and automotive industry

According to a statement given to Financial Times by Hyundai, the South Korean carmaker is in early talks with Apple about building an electric vehicle. This could potentially be the latter’s long-awaited move in this industry. But while Hyundai tried to play it down, a Korean-language report said that Apple plans to go public with its electric vehicle in 2027, and it is discussing with Hyundai to develop its own EV batteries.

From the experts’ point of view, the two of them working together will be the natural thing to do. They are already collaborating on CarPlay – Apple’s software for connecting iPhones to vehicles. Moreover, if Apple comes out with electric cars could be a potential threat to industry leader Tesla.  

Following the news, Hyundai stock price went up more than 20%, trading at a six-year high. Apple stocks closed 3.41% higher.

 Sources: ft.com, reuters.com

disclaimers_articles

article_share_title

article_rating_title

awful
ok
great
awesome

read_more

Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.