Kia stock soars after talk of a production deal with Apple

The automaker’s shares closed up 9.7% in Seoul on Wednesday, reaching 97,700 Korean won ($87.70) per share. That’s the highest level since August 1998, according to data provided by Refinitiv Eikon. According to a report by the newspaper Dong-a Ilbo, Apple (AAPL) is about to invest 4 trillion won ($3.6 billion) in Kia for a partnership to build a new vehicle. CNN Business was unable to verify the report. Kia and parent company Hyundai both declined to comment on Wednesday, while Apple did not immediately respond to a request for comment. According to the newspaper, Kia would start producing cars for Apple at its factory in the US

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