We have been receiving news that after becoming the king of the iPhone market, Apple is now planning to introduce its first car. According to the latest report, Kia and Apple are still negotiating on cooperation in the automotive field.
After the news was exposed, Kia shares rose 8.1% today. Prior to this, Kia Motors initially confirmed that it had conducted initial negotiations with technology giant Hyundai Motors on autonomous electric vehicles.
However, on February 9, Kia Motors’ parent company Hyundai Motor Co. stated that the company has not currently negotiated with Apple. The share price of Hyundai Motor and its subsidiary Kia took a hit, and its market value was once reduced by 77.4 billion yuan
On February 25, Korean online news site Chosun Biz released a new report stating that Apple and Kia signed a memorandum of understanding last year and agreed to cooperate in eight areas including electric vehicles. Chosun Biz quoted an unnamed source as saying: “Even if the electric vehicle negotiation fails, there are still many projects that can be negotiated in other areas.
It remains to be seen, what will be the future of Apple cars and which motor company will partner with Apple. This is the start of the Apple car story and there is more to come in the future as the cars from the US tech giant are still many years away.