Hyundai has announced it is in early discussions with Apple to work together on self-driving electric cars.
The South Korean car firm’s share price rocketed more than 20% when the news was announced.
Last month, news emerged that Apple was moving forward with self-driving car technology with a 2024 launch date.
The electric vehicle market is becoming increasingly competitive with companies like Tesla grabbing the headlines with its rapidly-increasing valuation. Its founder Elon Musk is now the richest man in the world, displacing Amazon founder Jeff Bezos.
Experts say an electric vehicle from Apple is still at least five years away. They say pandemic-related delays could push the start of production into 2025 or beyond. Hyundai has already been pushing into new technologies such as electric, driverless and flying cars.
Apple’s efforts to produce an electric car, known as Project Titan, have been on and off ever since plans were revealed in 2014.