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Hyundai Motor says in early talks with Apple, shares surge 20per cent

Hyundai Motor Co said in was in early stage discussions with Apple Inc after the Korea Economic Daily reported that the two were in talks to cooperate on electric cars and batteries, sending its shares surging some 20per cent.

FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in
FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo

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SEOUL: Hyundai Motor Co said in was in early stage discussions with Apple Inc after the Korea Economic Daily reported that the two were in talks to cooperate on electric cars and batteries, sending its shares surging some 20per cent.

"Apple and Hyundai are in discussions but they are at an early stage and nothing has been decided," Hyundai Motor said in a statement.

Apple declined to comment.

In December, Reuters reported that the Apple is moving forward with self-driving car technology and is targeting as early as 2024 to produce a passenger vehicle that could include its own breakthrough battery technology.

(US$1 = 1,093.8000 won)

(Reporting by Heekyong Yang and Stephen Nellis; Editing by Edwina Gibbs)

Source: Reuters