Kia shares remain strong despite its denial of 'Apple Car' production

[Photo provided by Kia Corp.]

Kia Corp. (formerly Kia Motors) stayed strong Wednesday despite denial that it would be assembling Apple Cars.

Shares had gone up as high as 99,500 won ($90.45) earlier in the day after a 10 percent jump in after-hours trading on Tuesday. The stock closed Wednesday up 5.04 percent at 87,600 won, while Hyundai Motor ended down 0.96 percent at 259,000 won.

Kia in a disclosure echoed earlier statement from its peer Hyundai Motor, which also came under similar speculation, saying that it was discussing autonomous mobility ventures multiple foreign companies and nothing had been decided.

It is in the same context as Hyundai Motor, which said on Jan. 8 that it has received requests for cooperation in joint development of self-driving electric vehicles from multiple companies, but this remains at an early stage and noting has been fixed.

Investors flocked to Kia on news that Kia might lead ways for Apple Car production within Hyundai Motor Group.

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