South Korean carmaker Hyundai Motor Co confirms talks with iPhone maker, Apple, to build its self-driving all-electric “Apple Car“.
Hyundai shares surged as much as 18%, the most intraday since 1988, after reports the automaker was in talks with Apple.
It comes amid last week’s reports that said US phonemaker Apple is planning to put production versions of its self-driving cars on the road by 2024.
Now it seems the Hyunda-Apple partnership may soon be finalised after the autogiant confirmed in a statement to CNBC that Apple is in negotiation with it and other automakers.
“We understand that Apple is in discussion with a variety of global automakers, including Hyundai Motor. As the discussion is at its early stage, nothing has been decided.”
Apple’s self-driving car project, called “Project Titan”, designed its own car from scratch and aims to produce production vehicle by 2024.
“Project Titan” has experienced a couple of gains and losses since it launched in 2014. The phone maker sacked 190 staff working on the project in 2019.