The fate of the Apple car industry with the help of Hyundai and Kia

 

After press information was leaked on the Internet expecting Hyundai and Kia to help create a sophisticated Apple car at the beginning of 2021, today we have official information that decides the fate of secret negotiations that brought together the US tech giant Apple and the Korean car maker Hyundai (Hyundai).

According to what was published on Bloomberg, Apple withdrew from the initial negotiations to cooperate with Hyundai and Kia for the manufacture of technically advanced electric cars, after weeks of discussions.

As previously, press leaks circulated on the Internet last January, giving an opportunity for an alliance between the Korean car company and the consumer electronics manufacturer in order to create the first production Apple car, and this electric car was supposed to be based on the Hyundai Group's E-GMP platform.

These new details do not decide the fate of the production of the Apple car, but rather ends expectations of cooperation in production with Hyundai and Kia, which means that Apple, which recently announced that it has 195.57 billion US dollars in cash in hand, is still looking for a car company to help it achieve a dream of producing a car Carrying the bitten apple logo.

Unofficial leaks by Thai importing companies indicated that there is a test car that Apple will unveil in the month of September.While private sources quoted to Reuters information indicating that some executives at Hyundai objected to the idea of ​​cooperation for the manufacture of Apple cars, and stated according to what was published, "We are not a company that manufactures other people's cars!"

Regardless of the fate of this cooperation, the previously spread rumors that suggested the completion of this cooperation, which would have included Apple's huge financial investment in Hyundai to produce its cars at the Kia plant in Georgia, pushed Kia’s share price to its highest levels since 1998, reaching To 97,700 Korean won, equivalent to approximately 88 US dollars, according to CNN, as investors traded shares in the hope of a historic deal and potential investments, and after this deal was not completed, the value of these shares decreased, leaving the Korean company to lose 8.5 billion US dollars of its market value.