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Hyundai is in preliminary talks with Apple to develop a car

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Miguel A. Rodriguez
Miguel A. Rodriguez
27 January 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

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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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.