From Gina Lee
Investing.com – South Korean Kia Motors Corporation (KS 🙂 is currently exploring cooperation with several foreign companies on self-driving electric cars, the automaker said on Wednesday.
Kia stock rose 5.64% to KRW 88,100 ($ 79.86) by 11:48 p.m. (4:48 p.m. GMT) after seeing gains of up to 7% at the start of the session.
The company made the comments about a government filing following Tuesday's reports from unquoted parent company sources Hyundai engine Group (KS 🙂 had decided that Kia would monitor a planned collaboration with Apple Inc. (NASDAQ 🙂 on electric cars. However, the report was not mentioned in the filing.
Hyundai Motor declined to comment, dropping as much as 2.7% at the start of the session. Apple wasn't immediately available for comment either.
Hyundai Motor, Kia's publicly traded sister company, said it was in early talks with Apple earlier this month after local media reported the two companies had talks about an electric car and a battery connection. That news sent Hyundai stock up nearly 25%, while Apple refused to comment at the time.
December media reports said Apple had advanced technology for self-driving cars and planned to produce a car as early as 2024 that could contain its own breakthrough battery technology.
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