After rumors emerged in January that Hyundai would be in talks to help develop the Apple car, which were followed by others in which, after all, Kia would be in talks with the apple brand. that both hypotheses fall to the ground.
Hyundai assumed at the time that it was in talks with “several companies” about possible cooperation to develop autonomous cars, thus avoiding confirming the rumors of negotiations with Apple, but now the South Korean brand has put an “end stop” " on the subject.
In an update aimed at its investors, the Hyundai Motor Group clarified: “We are receiving requests for cooperation from several companies for the joint development of autonomous electric vehicles (…) We are not in negotiations with Apple on the development of autonomous vehicles”.
And now?
For starters, this news has already "paid" the shares of both Hyundai and Kia. After this announcement, Hyundai shares were down 6.2% while Kia's plunged further, down 15%.
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If you recall, in January the exact opposite happened, with shares in Hyundai Motor Group rising 19% after this statement: "Apple and Hyundai are in talks, but as they are still at an early stage, nothing has been decided."
Once the non-existence of a partnership between Hyundai and Apple has been confirmed, the technological giant's car project is once again shrouded in doubt.
After all, what other car maker might Apple turn to to develop its first car? Will the rumors that Apple turn to a supplier like Magna International, which has extensive experience in car development and production, will be confirmed?
Or will we see another manufacturer “get ahead”? Could the Apple car be based on the Volkswagen Group's MEB, how will a future Ford model be based? We will have to wait, for the time being, for new developments.