On the topic of automobiles, there is buzz in the market surrounding rumors of Hyundai Motor Company (HYMTF) potentially partnering with Apple (APPL) to create a new electric vehicle. Hyundai didn’t deny the rumors, stating to Bloomberg that “Apple and Hyundai are in discussion, but as it is at an early stage, nothing has been decided.”
The speculation was enough to excite Hyundai investors, sending shares of the company up by more than 20% on Friday on the Korea Exchange.
Last month, Reuters delighted Apple (AAPL) fanboys and girls with reports about Project Titan, the tech company’s initiative to develop a fully autonomous electric passenger vehicle. The report generated buzz amongst investors and electric vehicle enthusiasts. If Apple is serious about creating an autonomous electric vehicle, they’ll need a partnership with an established auto maker like Hyundai who already has the ball rolling in battery and autonomous driving technology.