Hyundai/Kia say they are no longer in talks to produce Apple Car

CarPlay (Image credit: Apple)

What you need to know

  • Hyundai/Kia now says they are not in talks with Apple about Apple Car.
  • The automaker says they are in talks with a number of other brands.

As reported by Bloomberg, Hyundai/Kia is now saying that they are no longer in discussions with Apple on a partnership to build the rumored Apple Car. The company has acknowledged that they are in talks with multiple brands about electric and autonomous vehicles but now says Apple is not one of them.

The South Korean carmakers have been talking with multiple companies about autonomous electric car development, but no decision has been made, they said in regulatory filings Monday. Hyundai said the discussions are in early stages. Hyundai shares fell as much as 8.4% in Seoul, while Kia slumped 15.3%.

Hyundai Elantra Carplay

Hyundai Elantra Carplay (Image credit: Hyundai)

The report from today sent Hyundai/Kia's stock tumbling after a progressive jump when it was rumored the company was close to closing a deal to manufacture Apple's electric car at the company's Kia plant in Georgia in the United States. The rumor at the time even stated that the company was receiving a $3.6 billion investment from Apple to support the project.

The iPhone maker plans to set up production with Kia and build Apple cars at the automaker's facility in Georgia, U.S., DongA Ilbo reported, without citing anyone. The companies may sign a deal on Feb. 17 and aim to introduce Apple cars in 2024, according to the newspaper, which said they have an initial target to produce 100,000 autos a year.

Rumors about Apple's potential partner for its electric car have been swirling and have zeroed in on Hyundai/Kia over the last couple of weeks, so it's unclear if today's news is true and the companies have parted ways or if it is another attempt by the automaker to keep the project secret, something that Apple is known for. Hyundai/Kia did release a similar statement in January after initial reports broke of the potential partnership between the two companies.

Joe Wituschek

Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.