Kia Motors’ share price exceeded 80,000 won due to the production of Apple cars… for the first time in 9 years

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Kia Motors’ stock price exceeded 80,000 won for the first time in nine years on the 19th. Recently, reports came out that Hyundai Motor, which decided to cooperate with Apple in the electric car business, decided that Kia Motors will take over the related business.

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Kia Motors finished the market at 83,400 won, up 16.64% from the previous day on the 19th. Kia Motors’ market cap also surpassed Hyundai Mobis and ranked 10th. This is the first time since May 2012 that Kia Motors’ stock exceeded 80,000 won.

The reason for the soaring share price is Kia Motors’ opinion of producing Apple cars. Earlier, it was reported that Apple had discussed with Hyundai Motor Company to produce electric vehicles. Recently, there is a forecast that Kia Motors will be in charge of producing Apple cars instead of Hyundai Motor, which is focusing its electric car capabilities on the Ioniq brand.

In the industry, Kia Motors’ Georgia plant in the US is selected as the production base. The Georgia plant has an annual production capacity of 340,000 units, and is equipped with press, body, painting and assembly plants. In Georgia, SK Innovation is building a battery company plant.

However, Hyundai Motor Group is in the position that “there is currently an initial discussion and no decision has been made.”


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