Hyundai Motor and Kia Motors announced on Feb. 8 that they are not discussing with Apple about developing autonomous vehicles.
"We are receiving requests from many companies for cooperation in joint development related to autonomous electric vehicles, but it has not been decided as it is in the early stages," Hyundai Motor said in a public announcement. "We are not discussing with Apple about developing autonomous vehicles."
Kia also announced, "We are considering collaborating with a number of foreign companies related to the self-driving electric vehicle business, but no decision has been made yet," adding, "We are not discussing with Apple about developing autonomous vehicles."
Regarding this, an official of Hyundai Motor Group said, "There is nothing else to announce except the disclosure."
Last month, Hyundai Motor and Kia did not deny their discussions with Apple, saying "no decision has been made" on media reports that talks on the development of self-driving cars with Apple, but this disclosure made it clear that discussions with Apple are not underway.
"Apple has reached an agreement on how to produce Apple cars at Kia's West Point assembly plant in Georgia," U.S. economic media CNBC reported on Feb. 4 (local time), citing multiple officials. "We will sign a formal contract as early as Feb. 17."
"Hyundai Motor is discussing ways to produce Apple cars as early as 2024 by investing $3 billion," the WSJ said on Feb. 5 (local time). "If the agreement is reached, up to 100,000 units can be assembled at Kia's Georgia plant from the first year of production."
However, both media reported that the two companies did not finally reach an agreement for cooperation, and that Hyundai Motor and Kia were not the only carmakers discussing collaboration on Apple Car production.
"The first Apple car will be based on Hyundai Motor Group's electric vehicle platform E-GMP," said Taiwan's TF International Securities in a recent report. "Hyundai Mobis, a component manufacturer of Hyundai Motor Group, will lead the design and production of parts and Kia will take charge of production in the U.S.”
Bloomberg reported on Feb. 5 (local time), citing multiple sources, that "Apple has recently temporarily suspended consultations with Hyundai Motor Group regarding consignment production of Apple cars."
It added, "It is uncertain whether discussions on cooperation between Apple and Kia Motors can resume or when it will resume. Hyundai Motor Group's indirect mention of the cooperation project with Apple has made bad results."
Bloomberg said Apple is discussing with other automakers besides Hyundai Motor and has asked the media to keep silent.
Japanese media, including the Nihon Keizai Shimbun, reported that Apple is also discussing with six Japanese automakers, including Toyota, Nissan, Honda, Mitsubishi, Matsuda and Subaru.
Industry sources said that even if discussions on cooperation related to Apple Car have actually been suspended, it can resume at any time and that negotiations may be prolonged.
Bloomberg also analyzed that Apple may not be looking for a partner immediately as it may take more than five years to mass-produce Apple cars as the development of Apple cars is currently in its early stages.
Meanwhile, related stocks are weakening in early trading as Hyundai Motor Group announced that it is not in talks with Apple on electric vehicle development.
As of 9:14 a.m., Hyundai Motor was trading at 232,000 won, down 7.01 percent from the previous trading day. At the same time, Kia fell 13.20 percent, Hyundai Mobis fell 7.80 percent, and Hyundai Wia 8.44 percent from the previous trading day.
