Reuters Union
There are mixed prospects for cooperation between Hyundai Motor Group and Apple in the United States. It was predominantly speculated that the contract would be concluded in the near future, but recently pessimistic predictions are also gaining strength. If the negotiations break down, the impact is not expected to be small, so attention is drawn to the direction. According to a report from the US media outlet on the 7th (local time) on the 5th (local time), several sources said that Apple and Hyundai Motor Group recently stopped discussing. As the Hyundai Motor Group disclosed the negotiations, the explanation followed that Apple, which emphasizes secrecy, was offended. These sources said it was not known whether the two companies would resume discussions, and said that Apple was discussing collaborations with other automakers.
This is contrary to recent reports that the negotiations are in the final stage. On the same day, the US Economic Daily (WSJ) said, “Kia was looking for a partner to assemble Apple’s electric car in Georgia, USA.” On the 3rd, there was a report saying that “Apple and Hyundai Motor Company and Kia will close the contract soon.” However, these media are also cautious about whether the negotiations are finalized. The US media (CNBC) said, “Apple may ultimately decide to cooperate with other automakers,” and said, “The newsletter stressed that the contract has not yet been finalized.” This is the reason why there are talks about whether the two companies that have insisted on a closed vertical integration are experiencing difficulties in negotiations. In fact, Hyundai Motor Group’s’collaboration gap’ has produced many interpretations in the industry. This is because it is prepared for the era of electric and self-driving cars and is prepared for other automakers seeking technological cooperation. German Volkswagen and General Motors (GM) of the US are actively working with other automakers as well as tech and IT companies such as Amazon and Microsoft (MS). On the other hand, Hyundai Motor Group’s only collaboration with the American parts maker Aptiv is to establish a joint venture for autonomous vehicles,’Motional’.
Kia headquarters in Yangjae-dong, Seoul. Hunger offer
An industry insider said, “Hyundai Motor still has a kind of trend toward other industries such as electronics and telecommunications because of its conservative culture that puts its car mass production capability at its best,” said an industry official. I said. If the negotiations go aground, the Hyundai Motor Group is expected to suffer a significant blow. Since Hyundai Motor Group’s share price has risen sharply since the possibility of producing’Apple cars’ was raised, the news of the breakdown is likely to be a major negative. Kia, which has been predicted as the production base of’Apple Car’, is getting more attention. Kia’s stock price, which had previously been around 60,000 won, has steadily risen and ended at 101,500 won on the 5th. It jumped 61.1% in a month from 63,000 won on the 7th of last month. During the same period, the shares of Hyundai Motors and Hyundai Mobis rose 21.1% and 15.8%, respectively. In particular, the trend of Hyundai Motor Group’s stock price on the 8th is emerging as a major concern of the industry. On this day, Hyundai Motor Company plans to re-disclose the’Apple Car’ negotiation. Kia is also set to re-announce on the 19th. By Jae-yeon Lee, staff reporter [email protected]