Kia Corp. shares rose as much as 20% on Wednesday after Korean Outlet eDaily said it would make Apple Inc.’s electric cars, Korean media eDaily reports. The reports allege Hyundai Motor Company chose subsidiary Kia to make the Apple cars.
- Initially, Hyundai was reported by local media outlets to be in advanced discussion with Apple on partnering on the latter’s self-driving vehicles.
- Hyundai confirmed Apple discussions but later backtracked, saying it was in talks with multiple automakers.
- If Kia takes the project, the company could make the Apple EVs at its Georgia factory in the U.S.
Kia and Apple stocks are currently gaining. 000270: KRX is up 5.04%, AAPL: NASDAQ is up 0.60% on premarket.
