In a surprise announcement Hyundai has revealed it is in early discussions with tech giant Apple to team up and possibly build self-driving electric cars.
The news first broke when a South Korean broadcaster on Korea Economic Daily TV revealed the possible partnership, saying the discussions were about an electric car and battery deal.
In a statement following the revelation, Hyundai confirmed they have begun talking with Apple, but did not provide specifics on the meetings.
“Apple and Hyundai are in discussions but they are at an early stage and nothing has been decided.”
After the story was aired, shares of Hyundai surged more than 20%. Apple has not commented on the report.
Apple’s ambitions for a self-driving electric car have been in the headlines again recently. Last month we reported that Apple was aiming to release a consumer friendly EV with a new battery design. It wouldn’t be released any time soon though, with estimates targeting 2024 at the earliest.
Since 2014 the tech giant has employed as many as 1,000 people on ‘Project Titan’, before scaling back in recent years.