By Reuters - 03 February 2021 Kia s share price jumped 14.5% on Wednesday after a local media report said the car maker will sign a deal with Apple to build electric vehicles. Image: GETTY IMAGES/ HAROLD CUNNINGHAM
South Korea s Kia Corp shares surged to their highest in more than two decades on Wednesday after a local media report said the carmaker will sign a 4-trillion won (roughly R53,638,118,200) deal with Apple Inc to build electric vehicles.
Shares in Kia, an affiliate of Hyundai Motor Co, jumped as much as 14.5% to hit their highest since 1997 at 102,000 won on Wednesday.
The rally came after South Korea s online news outlet DongA.com reported Apple would invest $3.6bn (roughly R53,787,528,000) in Kia as they collaborate to produce Apple s electric vehicles in Kia s Georgia plant, without citing any sources. The report said the deal would be signed on February 17.
By Reuters Staff
2 Min Read
SEOUL (Reuters) - South Korea’s Kia Corp shares surged to their highest in over two decades on Wednesday after a local media report said the carmaker will sign a 4 trillion won ($3.59 billion) deal with Apple Inc to build electric vehicles.
Shares in Kia, an affiliate of Hyundai Motor Co, jumped as much as 14.5% to hit its highest since 1997 at 102,000 won on Wednesday.
The rally came after South Korea’s online news outlet DongA.com reported that Apple would invest $3.6 billion in Kia as they collaborate to produce Apple’s electric vehicles in Kia’s Georgia plant, without citing any sources. The report said the deal would be signed on Feb. 17.