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Hyundai, Kia deny Apple car talks, send shares tumbling

Hyundai, Kia deny Apple car talks, send shares tumbling

Business
South Korean automaker Hyundai and its affiliate Kia on Monday denied news reports they were in talks with Apple for a joint project to make autonomous vehicles, sending their shares tumbling. The announcement came about a month after the country’s cable broadcaster Korea Economic TV said the iPhone maker had approached Hyundai to discuss a potential partnership to develop electric vehicles and batteries for them, sending the car maker’s shares soaring. Reports last week suggested they could produce cars in the US state of Georgia. But on Monday Hyundai and Kia said in regulatory filings they were “not discussing autonomous electric car development with Apple”. Both automakers added that they had talked with multiple firms about such projects, but no decision had been made...