SEOUL - Hyundai Motor Co said in was in early stage discussions with Apple Inc after the Korea Economic Daily reported that the two were in talks to cooperate on electric cars and batteries, sending its shares surging some 20%.

"Apple and Hyundai are in discussions but they are at an early stage and nothing has been decided," Hyundai Motor said in a statement.

Apple declined to comment.

In December, Reuters reported that the Apple is moving forward with self-driving car technology and is targeting as early as 2024 to produce a passenger vehicle that could include its own breakthrough battery technology.

  - Reuters