After a burst of reporting suggesting a deal between Hyundai and Apple for Apple Car production was imminent, the narrative is beginning to shift. In new regulatory filings at the moment, reported by Bloomberg, Hyundai and its subsidiary Kia Motors mentioned that they aren’t in discussions with Apple a couple of self-driving automobile.

The backstory

Hyundai made a daring assertion final month when it confirmed that it was in talks with Apple a couple of potential partnership for Apple Car. It then revised the assertion to say that it was working with a number of automobile makers on self-driving know-how, however had no specifics to share.

Quite a lot of sources had advised during the last a number of weeks that Apple and Hyundai have been in talks regarding Apple Car. Most not too long ago, experiences advised that Apple can be working with Hyundai subsidiary Kia Motors by way of a possible $3.6 billion funding. One native report from Korea had even advised a deal might be introduced as quickly as this month.

On Friday, Bloomberg reported that Hyundai and Apple had hit the brakes on their negotiations, saying that Apple was “upset” by Hyundai’s misguided assertion final month. Hyundai and Kia Motors have now confirmed this transformation.

Hyundai and Kia confirm

New filings at the moment from Hyundai and Kia confirm that the businesses are not in talks with Apple regarding Apple Car production — at the very least talks that they are prepared to make public.

Within the filings, Hyundai and Kia Motors acknowledged that they “have been speaking with a number of firms about autonomous electrical automobile improvement,” however no choice has been made. Hyundai shares are down 8.4% following this information, whereas Kia shares are down 15.3%.

Bloomberg experiences at the moment:

Hyundai Motor Co. and its affiliate Kia Motors Corp. mentioned that they aren’t in discussions with Apple Inc. on cooperating to develop a self-driving electrical car, following experiences and hypothesis that they have been working with the tech big.

The South Korean carmakers have been speaking with a number of firms about autonomous electrical automobile improvement, however no choice has been made, they mentioned in regulatory filings Monday.

At this level, the destiny of the Apple Car undertaking remains to be unclear in the case of a possible associate. Japan’s Nikkei newspaper has reported that Apple is in talks with “at the very least six automakers” for production of its all-electric, self-driving automobile.

In the end, whatever the state of its talks with Kia and Hyundai, Apple seems to have a revived curiosity in growing a self-driving automobile of some type. The undertaking has been rumored for over 5 years, and whereas there have been a number of shifts in methods, the present reporting is that Apple is planning an Apple-branded electrical automobile with self-driving capabilities.

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