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Hyundai and Apple Discuss Electrification... and Partnership

For some time now, Apple has made little secret of its desire to develop a electric car. A recent report in the Korea Economic Daily reveals that the communications giant is talking to Hyundai about a possible partnership, along with other potential dance partners.

The discussions are said to be about cooperation on the development of electric cars and batteries. The news boosted Hyundai's shares by 20 percent.

In December, sources told Reuters that Apple, whose first forays into the electric-car domain have ebbed and flowed since 2014, now aims to produce a vehicle with its own battery technology by 2024.

Then, news of a possible collaboration with Apple boosted not only Hyundai's shares, but also those of a number of Apple's current and potential partners. Analysts said at the time that the potential for such a development would depend on whether Apple (or a potential partner) had made advances in battery technology. Today, we know that Hyundai is one of those potential partners.

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