The American technology company Apple seeks to expand its production line to sustainable mobility with a fully electric vehicle, for this it entered into supply analysis with Hyundai and its vehicle assembly in South Korea. According Korea Economic Daily this approach is a huge hit on the stock market with 14% increases in shares for Hyundai expecting battery and body production by 2027.
In 2017 Apple made public that it was heading to face new markets in favor of advances in technology, wanting to participate in the fields of electric vehicles, autonomous technologies and shared travel or routes.. The statement from Hyundai fits with Apple’s vision and leaves the world waiting to build a fully autonomous electric vehicle on behalf of these two companies. Both technology companies seek to compete with Tesla when they achieve their project.
Drastic movements in the stock market
The news that opens the possibility of seeing a creation in society notably increased the titles in favor of Hyundai Motor as well as its subsidiaries within the stock market, where investors see the union of the companies as a safe asset in the future not far away. Globally, the Seoul Stock Exchange rose 4% this Friday. His main selective, the Kospi, gained 120.5 points to stand at 3,152.18 points.
The South Korean car company ended with a profit of 19.42%, after reaching a peak of investments that soared around 25%. For its part, Hyundai Wia rose 24.72%, Hyundai Mobis advanced 22.17% and Hyundai Glovis, 2.76%. In addition, Kia Motors, the second largest automobile manufacturer in South Korea and one of the brand’s subsidiaries, has risen 11.90%.
Appel has all the potential to develop software, one of the most important parts of an electric and autonomous vehicle, while the Koreans have a lot of experience creating production lines and mass vehicles. The Koreans also presented their new electric car platform and its new electric car brand, IONIQ (see full note) and they announced that they will have an autonomous vehicle in 2027.
In theory this union would solve the two biggest problems that Tesla had in its early days: creating powerful and sustainable software, and moving to mass production, or «production hell“, As Elon Musk himself called it.