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Kia-Apple partnership still possible

Kia-Apple partnership still possible

The news sent Kia stocks more than 8% higher in a knee-jerk reaction

Stocks impacted: Kia Corp (000270), Apple (AAPL)

A South Korean online news site reported on Friday that there might still be hope for a partnership between Kia and Apple despite earlier this month, Hyundai and Kia confirmed they were no longer in talks to create an "Apple Car" for Apple. The Apple car is rumoured to feature LiDAR technology which could add a lot of depth to onboard Artificial Intelligence (AI) functions. As a reminder, Apple last year inked a memorandum of understanding with Kia to cooperate on projects spanning eight different sectors. Now, there are reports that the two companies are also discussing cooperation in "last mile" mobility, with Kia's electric scooters. The news that negotiations regarding a vehicle partnership have not been fully abandoned sent Kia stocks more than 8% higher in a knee-jerk reaction. The company’s shares finished the session 3.12% higher while the broader Asian market suffered an aggressive sell-off across the board.

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