As the possibility of cooperation between Hyundai Motor Group and Apple is raised, the automobile industry is fluctuating. This is because of expectations and concerns that if Hyundai Motor Company and Apple join hands, they will quickly become predators in the electric car market.
Hyundai Motor Company “Early Negotiation… Nothing has been decided”
Share price surged 19.42% on the back of expectations
On that day, a domestic media reported that only the homework of Chairman Eui-sun Eui-sun and the collaboration between Hyundai Motor Company and Apple remained. Regarding this, Hyundai Motor Company put forward an official position that “it has not been specifically decided.” A company official explained, “We are in the process of consulting with Apple, but in the early stages.” It is known that Apple is currently working with several automakers with the goal of producing self-driving electric vehicles (hereinafter referred to as Apple cars) from 2024.
Graphic = Reporter Lee Jeong-kwon [email protected]
In the industry and stock market, there is an analysis that the possibility of cooperation between the two companies is high. It is known that Apple has secured related technologies while conducting research on Apple cars since 2014. However, there is no car production capacity. Hyundai Motor Company has the world’s fifth-largest automobile production base, and has recently focused on electric vehicle platforms. It ranks fourth in the global electric vehicle market. It is an analysis that it can be an attractive partner for Apple. Professor Lee Ho-geun of Daedeok University, said, “For Apple, it is an advantage to be able to supply high-quality products in a short time.”
It is expected to be a good news for Hyundai Motor Company. This is because Apple’s brand power is so strong, and as automobiles are evolving to the point that they are referred to as’mobile phones with wheels’, Apple’s mobile phone operating system and contents can be secured. An official from a stock market said, “Based on Apple’s big data, we can also strengthen connectivity services that link mobile phones and cars.” “Hyundai Motors has nothing to lose.”
With this expectation, Hyundai Motor’s stock price surged 19.42% from the previous day to 246,000 won. However, there are voices that it is too early to mention the synergy effect, as the collaboration with Apple has not yet been materialized and the possibility of success is unknown. It is not known whether the collaboration method is a joint venture or a technology alliance. Hyundai Motor Company did not deny Apple’s proposal for cooperation on the day, but it is as cautious as Apple holds the key.
Reporter Hwang Jung-il [email protected]