Hyundai Motor Co. said it was in early talks with Apple Inc. on the development of self-driving electric vehicles, increasing its stake to 24% in Seoul.
“Apple and Hyundai are in talks, but it is at an early stage, nothing has been decided,” the South Korean manufacturer said in a statement on Friday.
While development work is still early, Apple will take at least half a decade to introduce an autonomous, electric vehicle, people with knowledge of the efforts told Bloomberg News. Hyundai is accelerating new technologies such as electric, driverless and flying cars, including the introduction of $ 4 billion autonomous management joint venture.
Hyundai’s intraday stockpile in Seoul was the largest since 1988. A cable TV unit from Korea Economic Daily earlier reported the discussions with Apple. Hyundai has completed internal discussions on the project and is awaiting approval from
the chairman, according to the report.
Apple declined to comment.
– With help by Mark Gurman
(Updates to Hyundai’s response begin in the first paragraph.)