Hyperdrive
Apple Car Fracas Marks First Public Setback for Hyundai Boss
- Monday’s statement was embarrasing about-face for automaker
- Chung has had early successes repositioning for greener future
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Hyundai Motor Group Chairman Euisun Chung -- central to the company’s transformation from conventional carmaker to mobility giant promoting flying cars and hydrogen-fuel cells -- had his first, very public, stumble this week.
On Monday, after a month of intense speculation around who may team with Apple Inc. to help develop its much-vaunted self-driving electric car, Hyundai Motor Co. and its affiliate Kia Motors Corp. were forced in separate exchange filings to say they weren’t in any talks with the tech behemoth, backing away from an earlier Hyundai statement that confirmed they were in discussions.