Hyundai Motor Co. said it is in early discussions with Apple Inc. on developing self-driving electric vehicles, sending its shares up as much as 24% in Seoul.

“Apple and Hyundai are in discussion, but as it is at an early stage, nothing has been decided,” the South Korean manufacturer said in a statement Friday (Jan 8).

With development work still at an early stage, Apple will take at least half a decade to launch an autonomous, electric vehicle, people with knowledge of the efforts have told Bloomberg News. Hyundai is accelerating a push into new technologies such as electric, driverless and flying cars, including setting up a $4 billion autonomous-driving joint venture.

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