“The negotiations are not out of fire” analysis
The Hyundai Motor Group announced that it is not discussing the development of autonomous vehicles with Apple. It is unlikely that Hyundai Motor Group and Apple will join hands in a short period of time, but some analysts say that negotiations have not completely extinguished.
On the 8th, Hyundai Motor Company, Kia, and Hyundai Mobis said, “We are receiving requests for cooperation in joint development of autonomous electric vehicles from a number of companies, but this has not been decided. “We are not discussing the development of self-driving cars with Apple.”
On the 8th of last month, the Hyundai Motor Group announced that “a number of companies are receiving requests for joint development cooperation with Apple” when it was reported that they would consider joint development with Apple to make an autonomous electric vehicle. The auto industry interpreted Hyundai Motor as a de facto acknowledgment of the discussion with Apple. However, amid speculative reports on specific details such as the production plant and investment amount, it was announced that the Hyundai Motor Group-Apple negotiations had stopped. It was also interpreted that negotiations were not completely broken, noting that only autonomous vehicles were included in the Hyundai Motor Group announcement and there was no mention of electric vehicles. On this day, Kia’s share price (8,6300 won) fell 14.98% compared to the previous trading day, and Hyundai Motor (234,000 won) fell 6.21%, closing the market. When the market caps of five listed companies of the Hyundai Motor Group, including Hyundai Mobis, Hyundai Wia, and Hyundai Glovis, were added, the market cap of about 1.35 trillion won disappeared within one day.
Do-Hyung Kim [email protected]Go to reporter page>Reporter Byun Jong-guk
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