Hyundai's stock skyrockets on reports it is in talks with Apple to build a car

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Hyundai's stock recorded its best day in at least two decades after the South Korean automaker was reported to be in early talks with Apple to develop self-driving electric cars.

While nothing has been finalized, several media outlets reported Friday that Hyundai has confirmed that it is talking to Apple. The news was initially reported by Korea Economic Daily TV, though Reuters, Bloomberg and others have since reported that Hyundai says it is in some kind of discussion with Apple about a car tie-up.CNN Business has been unable to confirm the nature of the discussions.

Hyundai, meanwhile, has pledged top dollar to join the race to build such vehicles. The company said last October that it plans to invest 41 trillion won into"future mobility technology" by 2025 — a commitment that puts it on par with major players like Volkswagen. Electric cars hit record 54% of sales in Norway as VW overtakes TeslaIn December, Hyundai unveiled engineering for a series of new electric cars.

 

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