Hyundai Motor Co. said on Sunday that, unlike several reports, it is not in talks with Apple Inc. to develop an autonomous electric car.
In a regulatory case, the South Korean carmaker said it wants to clarify “rumors” about a joint effort with Kia Motors Corp. to work with Apple AAPL,
and said it had received “requests for cooperation” from a number of companies wishing to develop self-driving electric vehicles.
“We are not consulting with Apple on the development of autonomous vehicles,” Hyundai said in the file, according to a translation.
Hyundai said its various talks about an autonomous electric vehicle were in their infancy and nothing had been decided yet.
Actions Hyundai 005380,
fell by more than 6% in Korean trading after the deposit.
Reports of the joint venture came out last week, and reports said the car would be built at a Kia factory in Georgia. Hyundai has a 38% control share in the Kia 000270,
Bloomberg News reported on Friday that talks between Apple and Korean carmakers had been interrupted, apparently Apple was upset that Hyundai revealed the news of the secret negotiations. Bloomberg reported that it is unclear when – or if – talks will resume.
Hyundai initially confirmed the negotiations in early January, sending its shares up. Apple has been working for years to develop autonomous vehicles in one form or another, always under a strict secrecy.