Shares in South Korean automaker Hyundai soared Friday on the back of reports it was in talks with Apple for a joint project to manufacture self-driving electric vehicles.

Hyundai Motor shares rocketed 19.4 percent in Seoul, with its affiliate Kia also jumping 8.4 percent at the close.

The moves came after cable broadcaster Korea Economic TV said the iPhone maker had approached the South Korean company to discuss a potential partnership to develop electric cars and batteries for them.

South Korea's Yonhap news agency quoted a Hyundai representative as saying the firm was "at an initial stage of talks with Apple".

Most major automakers and many technology groups are currently developing autonomous vehicles, considered to be the future of the automobile, along with electric power.

Consumer interest in eco-friendly vehicles has mounted in recent years with Tesla largely taking the lead in the sector.

Apple's Project Titan is devoted to self-driving technology but the firm is known for being ultra-secretive about business projects.

Hyundai, South Korea's biggest automaker, has already rolled out fully-electric cars including the Ioniq and the Kona Electric as it seeks to win a slice of the growing market.

It has announced it will offer ten models of "electrified, eco-focused vehicles" including hybrid and hydrogen-powered models by the end of 2022.

"We've been receiving requests for potential cooperation from various companies regarding development of autonomous EVs," Hyundai Motor said in a statement sent to AFP.

"No decisions have been made as discussions are in (an) early stage."

kjk/slb/qan

HYUNDAI MOTOR

APPLE INC.

KIA MOTORS

TESLA MOTORS

Related Links
Car Technology at SpaceMart.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Norway first to reach 50% electric in new car sales
Oslo (AFP) Jan 5, 2021
Norway has become the first country in the world where electric cars account for more than half of new registrations, according to figures published Tuesday by an industry group. Despite the Covid-19 pandemic delaying the release of several new models, electric vehicles accounted for 54.3 percent of the new car market last year, up from 42.4 percent a year earlier, according to Opplysningsradet for Veitrafikken (OFV, "Information Council for Road Traffic"). In December, electric car sales set a ... read more