Hyundai Motor confirmed that self-driving car talks with Apple are increasing very rapidly

Hyundai Motor Co shares rose more than 20% in trading Friday in Seoul after the South Korean automaker confirmed it was in talks with Apple Inc. To develop an electric self-driving car.

Hyundai said in a statement: “Apple and Hyundai are in discussions, but since it is at an early stage, nothing has been decided.”

That was enough to ignite 005380 for Hyundai,
+ 19.42%
The largest intraday gain since at least 1988.

The Korean news site Hankyung Apple first reported its news, saying Hyundai would manufacture the Apple-designed car as well as develop batteries for it.

separately , Reported by Bloomberg News Thursday that it will take Apple AAPL,
+ 3.41%
At least five years to develop an autonomous vehicle. Bloomberg also reported that a number of Tesla Inc. TSLA previous,
+ 7.94%
Executives have been added to the project.

For years, Apple was rumored to be working on a self-driving car, switching between developing its own and Just technology development For one. Last month , Reuters reported Apple was once again looking to develop a passenger car, with a target date of 2024.

Apple shares jumped more than 3% on Thursday, and are up 69% over the past year, compared to a 7% gain for the DJIA.
+ 0.69%And the
It is one of its components, during the past 12 months.

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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