Apple, Nissan talks failed after disagreement on branding
The negotiations had not advanced to the senior management level
Stocks impacted: Nissan Motor Co. (7201), Apple Inc. (AAPL)
Nissan said it was not in talks with Apple to develop an autonomous electric car due to the Japanese auto maker’s reluctance to manufacture Apple-branded cars. Earlier, there were reports that the iPhone maker approached Nissan in recent months about a tie-up for its autonomous car project. However, the talks had not advanced to the senior management level because of a division among the companies regarding the branding for the autonomous car from Apple. At the same time, the Japanese company said it is always open to “exploring collaborations and partnerships to accelerate industry transformation”. Following the news about failed talks, shares in Nissan were sharply lower on Monday. The stocks were down more than 3.5% before ending the session 2.84% lower. As a reminder, South Korea’s Hyundai Motor Co. said it was no longer in talks with Apple, after leaking word of negotiations in January.
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