We’ve had over a month of rumors about the Apple car, and all were focused on the possible deal between Apple and Korean company Hyundai. Many have taken the deal for granted, but it looks like negotiations are over as Hyundai has confirmed they are not, or at least no longer, in talks with Apple.
As revealed Bloomberg, “Hyundai Motor Co. and its subsidiary Kia Motors Corp. declared that are not in talks with Apple Inc. to develop an autonomous vehicle“. It is not known who decided to leave the negotiation, but the Korean company confirmed that although “it has discussed with several companies the development of autonomous electric cars”, no decision has been made yet.
Recall that it was Hyundai itself who disclosed that they were in talks with Apple to manufacture an electric car. And it seems that so many leaks didn’t please Apple too much, who always wants to carry these matters with sufficient secrecy and discretion.
Apple could partner with other manufacturers
The leaks in recent weeks have been constant. From the millionaire investment that Apple was going to make in one of the factories that Kia has in the United States, to the platform itself that the Apple Car could use.
Ming-Chi Kuo, Bloomberg, Nikkei Asia, there are a lot of media and people who have talked about it Apple Car and the possible agreement with Hyundai, which now looks a bit more distant after the news this morning.
Despite this setback with Kia and Hyundai, Apple seems to have a clear interest in developing a self-driving, electric car. I don’t think it will affect their development, they just need to find a new trusted partner.
Moreover, after the announcement of this news, Hyundai shares are down 8.4%, Kia shares down 15.3%. Both companies had seen its value increase in recent weeks after rumors of a possible collaboration with Apple.
