Hon Hai Precision Industry Co Ltd
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Based in Taiwan, Province Of China
Company profile

Hon Hai Precision Industry Co Ltd is a Taiwan-based company mainly engaged in the provision of various connectors, housings, radiators, assembled products and related products related to the information industry, communication industry, automation equipment industry, optoelectronics industry, precision machinery industry, automotive industry, and consumer electronics industry, as well as the manufacture and sale of network cable assembly and other products. The Company's products include components, modules and system assembly products in the fields of computers, modules and consumer electronics (3C) electronic products. The components include 3C connectors, wire-mounted products and other components. The modules include mechanical modules and electronic modules. The system assembly products include assembly of finished products of 3C products. The Company operates businesses in domestic and overseas markets.

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UPDATE: Hyundai Motor confirms self-driving-car talks with Apple, shares skyrocket

10:42 pm ET January 7, 2021 (MarketWatch)

By Mike Murphy

Shares of Hyundai Motor Co. soared more than 20% in Seoul trading Friday after the South Korean auto maker confirmed it was in talks with Apple Inc. to develop a self-driving electric car.

"Apple and Hyundai are in discussion, but as it is at early stage, nothing has been decided," Hyundai said in a statement.

That was enough to spark Hyundai's sharpest intraday trading gain since 1988.

The Korean news website Hankyung (https://www.hankyung.com/news/article/2021010802115) first reported the Apple news, saying Hyundai would manufacture the Apple-designed car as well as develop batteries for it.

Separately, Bloomberg News reported (https://www.bloomberg.com/news/articles/2021-01-07/apple-s-aapl-tesla-tsla-killer-won-t-ship-for-at-least-half-a-decade?sref=Oeyjq8by) Thursday that it will take Apple (AAPL) at least five years to develop an autonomous car. Bloomberg also reported that a number of former Tesla Inc. (TSLA) executives have been added to the project.

For years, Apple has been rumored to be working on a self-driving car, and has gone back and forth between developing its own car and just developing the technology (https://www.marketwatch.com/story/apple-focusing-on-self-driving-technology-not-building-cars-report-2017-08-22) for one. Last Month, Reuters reported (https://www.marketwatch.com/story/apple-shares-rise-on-report-that-icar-could-emerge-in-2024-11608584812) Apple was again looking to develop a passenger car, with a target date of 2024.

Apple shares jumped more than 3% on Thursday, and are up 69% over the past year, compared to a 7% gain by the Dow Jones Industrial Average , of which it is a component, over the past 12 months.

-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com


(END) Dow Jones Newswires

January 07, 2021 22:42 ET (03:42 GMT)

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