Shares of Hyundai Motor jumped more than 23% after the South Korean carmaker was reported in a preliminary discussion with Apple on the potential for collaboration to produce electric cars.
A representative from Hyundai Motor explained that so far no decision has been given.
According to reliable sources, Apple chose Hyundai to collaborate in creating electric cars including battery production which is expected to be launched in the next six years.
Apple, however, avoided commenting on the report.
Shares of Hyundai Motor rose 23.06%, Hyundai Wia (27.12%), Hyundai Mobis (26.44% and Hyundai Glovis gained 5.26% while its shareholders, Kia Motors, jumped 12.70%.
Indirectly, Hyundai's pioneering wealth increased by $ 2 billion, bringing the firm's total assets, Euisun Chung, to $ 5 billion and his father's $ 7.4 billion.
Apple car speculation has started to spread over the past six years before returning to recent attention without any clear wording.
Last month, Apple announced their plans to produce self-driving car technology along with the latest battery technology. The expected launch date of the product is 2024.
