Kia shares up after online report of remaining potential for Apple partnership


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© Reuters. FILE PHOTO: Signs of a KIA Motor car dealership are pictured in Monterrey

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SEOUL (Reuters) – Shares in automaker Kia Corp rose more than 4% on Friday after a South Korean online news site reported on the remaining potential for a partnership with Apple Inc (NASDAQ:).

Apple and Kia signed a memorandum of understanding (MOU) last year and agreed to pursue cooperation in eight sectors, including electric vehicles, and negotiations on electric vehicles are not completely cancelled, online media Chosun Biz reported earlier on Friday.

Chosun cited an unnamed source familiar with negotiations between Hyundai Motor Group, of which Kia is part of, and Apple.

Hyundai Motor Co said earlier this month it is not now in talks with Apple on autonomous electric cars, just a month after it confirmed early-stage talks with the tech giant, sending the automakers’ shares skidding.

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