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Hyundai, Kia shares fall; say not in talks to develop Apple car

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A logo of Hyundai Motor is seen on a glass door at a company branch in Seoul on July 23, 2015

Jung Yeon-Je | AFP | Getty Images

South Korean automakers Hyundai Motor and Kia Motors said Monday they are not in talks with Apple to develop an autonomous vehicle.

Hyundai Motor shares fell 4.41% in South Korea on Monday while Kia Motors shares plunged about 12%. Other affiliates including Hyundai Wia, Hyundai Mobis and Hyundai Glovis were also down sharply.

“Hyundai Motor is getting requests from multiple companies for cooperation in joint development of autonomous, electric vehicles but nothing has been decided since it’s in early stage,” the company said, according to a CNBC translation of a…



Source cnbc.com

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