Kia Confirms Talks For Cooperation On Electric Cars With Foreign Firms

Not long ago, a rumor surfaced that Kia and Apple would be working together on an autonomous electric vehicle. Neither company confirmed they were working together on a car. However, Kia has confirmed that it is reviewing cooperation on self-driving electric vehicles with multiple foreign firms.

The Korean automaker did not confirm that it was working with Apple. Kia confirmed it was working with foreign firms on electric vehicles in a regulatory filing. Kia's stock price increased nearly 20 percent since rumors of it working with Apple began. Kia's parent company, Hyundai Motor Group, has reportedly decided Kia will be in charge of cooperation with Apple on electric vehicles.

The most recent report cited unnamed industry sources claiming to be familiar with the deal. While Kia hasn't confirmed that it would be working with Apple, Hyundai Motor Company did confirm that it was in early talks with Apple after rumors first surfaced that discussions for electric cars and batteries were happening. That rumor pushed shares in Hyundai up nearly 25 percent, but there has been no confirmation by Apple.

This all comes after reports last month that Apple was moving forward with its own vehicle using its own breakthrough battery technology. That report claimed vehicle production could happen as early as 2024. Other reports have indicated that vehicle production could start much later than 2024.

Apple has been working on autonomous electric vehicle technology for a long time. It was believed that Apple had abandoned the project for a while, but it now seems those reports were incorrect. One question that remains is if Apple is providing autonomous and battery technologies to other automakers or if the vehicle will be an actual Apple product.