Hyundai Motor Co. said Sunday that, contrary to multiple messages, it is not in talks with Apple Inc. to develop a self-driving electric car.
In a regulatory filing, the South Korean automaker said it wanted to clarify “ rumors ” about a concerted effort with Kia Motors Corp. to partner with Apple AAPL,
and said it has received “requests for cooperation” from a number of companies looking to develop self-driving electric vehicles.
“We are not in consultation with Apple about the development of autonomous vehicles,” Hyundai said in the application, a translation said.
Hyundai said the various talks about an autonomous electric vehicle were in the early stages and nothing has been decided yet.
Hyundai shares 005380,
fell more than 6% in Korean trade after the filing.
Reports of the joint venture were released last week, with reports that the car would be built at a Kia factory in Georgia. Hyundai owns a controlling interest of 38% in Kia 000270,
Bloomberg News reported Friday that talks between Apple and the Korean automakers had been interrupted, apparently because Apple was angry that news of the secret negotiations had been leaked by Hyundai. Bloomberg reported it was unclear when – and if – the talks would resume.
Hyundai had originally confirmed the negotiations in early January, causing its shares to skyrocket. Apple has been developing autonomous vehicles in one form or another for years, always under strict confidentiality.