The First Rule of Apple Club: Don't Talk About Apple

Signage for Apple Inc. is displayed outside a store in Xiamen, China, on Monday, Aug. 26 2019. U.S. companies are concerned about President Donald Trump’s threats to ban them from doing business in China, and they’re poised to halt new investments if the trade war escalates, the leader of group of top chief executive officers said.Photographer: Qilai Shen/Bloomberg

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February 12, 2021 at 11:45 AM UTC

Hi, it's Mark here. If you’re closely watching Apple Inc.’s electric car efforts, the past month has been, well, quite a ride. In January, several news outlets in South Korea reported Apple was close to a deal with Hyundai to manufacture the iPhone maker’s eventual foray into the auto business. Some of the stories went as far as claiming there would be a signing event in mid-February.

The rumors escalated early this month when CNBC and the Wall Street Journal reported that Apple was nearing such an agreement and that there were plans for Kia, a brand controlled by Hyundai, to manufacture Apple cars in Georgia.