Hyundai Motor said on Friday that early talks are going on with Apple after local media reported that the two giants were discussing a tie-up to develop electric cars and batteries.

"Apple and Hyundai are in discussion, but as it is early stage, nothing has been decided," Hyundai, in a statement, said.

Watch |&nbsp;

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Korea Economic TV said that Apple had approached South Korean auto giant Hyundai for a potential partnership to manufacture electric cars and batteries for them.&nbsp;

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South Korea's Yonhap news agency quoted a representative from Hyundai as saying that the talks with Apple are "at an initial stage".&nbsp;

Weeks ago, Reuters reported that the iPhone maker was developing self-driving car technology and targetting to manufacture a passenger vehicle as early as 2024 with its own breakthrough battery technology.&nbsp;

Apple's Project Titan is dedicated develop to self-driving technology but the Silicon Valley giant is known to not reveal its projects.

Hyundai has already rolled out fully-electric cars and announced it will come up with ten models of "electrified, eco-focused vehicles" including hybrid and hydrogen-powered models by the end of 2022.

Following the news, the shares of Hyundai skyrocketed 19.4 per cent in Seoul, with its affiliate Kia also seeing a rise of 8.4 per cent at the close.&nbsp; 
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Hyundai Motor said on Friday that early talks are going on with Apple after local media reported that the two giants were discussing a tie-up to develop electric cars and batteries.

Hyundai Motor said on Friday that early talks are going on with Apple after local media reported that the two giants were discussing a tie-up to develop electric cars and batteries. "Apple and Hyundai are in discussion, but as it is early stage, nothing has been decided," Hyundai, in a statement, said. Watch | Korea Economic TV said that Apple had approached South Korean auto giant Hyundai for a potential partnership to manufacture electric cars and batteries for them. Also read | Privacy for sale as Apple and Facebook fight for consumers South Korea's Yonhap news agency quoted a representative from Hyundai as saying that the talks with Apple are "at an initial stage". Weeks ago, Reuters reported that the iPhone maker was developing self-driving car technology and targetting to manufacture a passenger vehicle as early as 2024 with its own breakthrough battery technology. Apple's Project Titan is dedicated develop to self-driving technology but the Silicon Valley giant is known to not reveal its projects. Hyundai has already rolled out fully-electric cars and announced it will come up with ten models of "electrified, eco-focused vehicles" including hybrid and hydrogen-powered models by the end of 2022. Following the news, the shares of Hyundai skyrocketed 19.4 per cent in Seoul, with its affiliate Kia also seeing a rise of 8.4 per cent at the close.

Hyundai in talks with Apple for developing electric cars

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Hyundai in talks with Apple for developing electric cars