Hyundai Motor and four related companies, including Kia and Hyundai Mobis, lost 13.5 trillion won ($12 billion) of market capitalization on Monday as the Korean automaker said it is not in talks with Apple to collaborate on the Apple car.
Hyundai Motor, Kia and auto parts affiliate Hyundai Mobis said Monday they are not currently in talks with Apple to develop an Apple car.
Cars remain in an outdoor parking lot at an apartment complex in Seoul Thursday morning as residents eschew driving in favor of public transport after overnight snowfall.
Exports of fully-electric vehicles increased 65.9 percent to $3.9 billion last year, surpassing exports of hybrid electric vehicles for the first time.
Kia’s share price hit a new all-time high on Wednesday after news reports Tuesday evening that it might be collaborating with Apple to make the so-called Apple car.
Scores of vehicles are burnt in a yard of a company that exports used cars in Incheon on Tuesday.
Despite the coronavirus pandemic, Korea's automotive industry performed quite well in terms of production last year, moving Korea up to the fifth-largest car manufacturing country.
Hyundai Motor and Apple may be planning to work together on making a self-driving electric car.
Shares of Hyundai Motor and its related companies shot up on Friday morning on news that the automaker and Apple are going to cooperate on developing electric vehicles and battery technology.
The government will install 12 hydrogen charging stations before the end of this year and set up another 110 in the first half of next year.