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There is a high possibility that no progress was made on the new Hyundai Motor Company announcement on the 8th and Kia Investor Day.
Concerns about stock price volatility
Conflicting foreign media reports on the cooperation between Hyundai Motor Group and Apple’s ‘Apple Car’ raised earlier this year are adding to market turmoil.
There are various opinions amid the sharp rise in Hyundai Motor Group’s share price in anticipation of Apple’s automotive cooperation, but Apple and Hyundai Motor Group, who are the real parties, are keeping quiet, intensifying the confusion.
According to industry sources on the 7th, Bloomberg News reported that Apple recently halted discussions with Hyundai Motors and Kia for the development of electric vehicles, citing sources on the 5th (local time).
Bloomberg said Apple, which had kept secret information on development projects and suppliers for many years, would have been upset when news of the discussion related to electric vehicles broke.
Due to Apple’s unique ‘secrecy’, discussions about ‘Apple Car’ cooperation with Hyundai Motor Group were halted.
On the other hand, the Wall Street Journal (WSJ) reported the same day that Kia was contacting potential partners about plans to assemble an ‘Apple Car’ at a plant in Georgia, USA.
Before this, the US business outlet CNBC said that negotiations to make an Apple-branded autonomous electric vehicle at Kia’s assembly plant in Georgia, USA, were nearing the final stage.
In a recent report to investors, Ming-chi Guo, an analyst at TF International Securities, known as an expert Apple analyst, revealed that Apple’s first car is expected to be based on E-GMP, the electric vehicle platform of Hyundai Motor Group.
A completely different voice is heard on the same topic, but Apple and Hyundai Motor Group remain silent.
On the 8th of last month, Hyundai Motor Company announced on the 8th of last month that “we are receiving requests for cooperation in the joint development of autonomous electric vehicles from various companies, but this has not been decided at the initial stage. . “It is being reviewed, but has not yet been decided.”
As Hyundai Motor Company announced in the public announcement at the time that “we will re-disclose the related information within a month or when confirmed,” the market is paying attention to the new disclosure that Hyundai will release on the 8th.
However, it is known that the new disclosure is also likely to be at the level of the content of the disclosure last month.
On the Kia CEO Investor Day scheduled for the 9th, it is also known that there will be no comment beyond the content of the disclosure.
It is also said that the industry cannot deny even some obvious misinformation because the industry strongly required that Hyundai Motor Group not mention Apple’s car itself, as Apple values adherence to confidentiality.
In the midst of this, market turmoil in which accurate information is not delivered is increasing.
In particular, the impact on the market, including individual investors, is not small, as the view that Kia, which has a Georgia plant in the US, will be in charge of Apple’s car production within and off the market.
Even over the weekend, there are voices of concern about the stock price drop in the stock discussion room.
On the 8th of last month, after it became known that the Hyundai Motor Company received Apple’s proposal to produce autonomous electric vehicles, the shares of groups such as Hyundai Motor Company, Kia and Hyundai Mobis rose in anticipation of ‘Apple Car’.
Kia, which earned 63,000 won on the 7th of last month, soared to 101,500 won (based on the fifth closing price) in a month.
The rate of increase in the share price during this period was 37.93%.
Hyundai Motor’s share price, which had been sideways at around 200,000 won, was also up 17.43% from 206,000 won to 249,500 won.
Hyundai Mobis, a manufacturer of spare parts, is considered the beneficiary of ‘Apple Car’, with an increase of 13.62%.
/ yunhap news
