Hyundai and Kia confirm end of talks with Apple for autonomous vehicle

It was reported that Hyundai and Kia companies were about to reach an agreement with Apple to produce autonomous vehicles together. However, according to Bloomberg's report, Hyundai and Kia stated that they have not had any negotiations with Apple on this issue.

Hyundai and Kia stocks down significantly

Hyundai announced last month that they were in talks with Apple for Apple Car production. After this statement, attention was naturally turned in this direction. Some sources even claimed that the two firms were about to make a $3.6 billion deal. According to these claims, Apple was initially targeting a production of 100,000 units a year. It later planned to increase its production up to 400,000 units. Following this news South Korea from Kia rose dramatically shares. However, Hyundai later revised its description. AppleHe stated that they have met with various companies on the subject without giving their name.

After all these developments, news emerged that the talks came to a halt. According to the latest news, Hyundai Motor Co. and its subsidiary Kia Motors Corp. According to the statement made by the companies, negotiations have stopped. Hyundai and Kia state that they are in talks with many companies to produce autonomous electric vehicles. It stopped on the news of the talks Hyundai shares 8.4%Kia shares while 15.3% has lost value. According to Japan's Nikkei newspaper Apple,  Apple Caris very eager for his project. The technology giant is meeting with at least 6 more companies.

According to CNBC's report: Apple welcomed the situation negatively when the negotiations between the companies were reflected in the press. After that, the talks ended. In addition to these, Hyundai and Kia do not just want to be subcontractors in the project. This is one of the conflicts. The parties are also in talks with other companies. They may even start negotiating again at a later date.
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