Hyundai Motor Co. said on Sunday that, contrary to several reports, it is not in talks with Apple Inc. to develop a self-driving electric car.
In a regulatory process, the South Korean automaker said it wanted to clarify “rumors” about a joint effort with Kia Motors Corp. to work with Apple AAPL,
and said he had received “requests for cooperation” from several companies looking to develop autonomous electric vehicles.
“We are not conducting consultations with Apple on the development of autonomous vehicles,” said Hyundai in the process, according to a translation.
Hyundai said its various negotiations on an autonomous electric vehicle were in the early stages and nothing has been decided yet.
Hyundai shares 005380,
it dropped more than 6% in Korean trade after the filing.
Reports from the joint venture emerged last week, with reports saying the car would be built at a Kia plant in Georgia. Hyundai has a 38% controlling interest in Kia 000270,
Bloomberg News reported on Friday that negotiations between Apple and Korean automakers had been halted, apparently because Apple was upset about Hyundai’s leak of secret negotiations. Bloomberg said it was unclear when – or if – negotiations would resume.
Hyundai had originally confirmed negotiations in early January, sending its shares up. Apple has been working on the development of autonomous vehicles in one way or another for years, always under a layer of absolute secrecy.