Business News

Hyundai, Kia shares dive as automakers puncture investor dream of Apple car tieup

By Heekyong Yang and Joyce Lee

SEOUL (Reuters) – South Korea’s Hyundai Motor Co said on Monday it is not now in talks with Apple Inc on autonomous electric cars, just a month after it confirmed early-stage talks with the tech giant, sending the automaker’s shares skidding.

Wiping $2.1 billion off its market value, Hyundai’s stock slumped 4.2% by 0330 GMT. Shares in its affiliate Kia Corp, which had been tipped in local media reports as the likely operational partner for Apple, tumbled 12% – a $4.3…

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