South Korea’s Hyundai Motor Co said on Monday it is not now in talks with Apple Inc on autonomous electric cars just a month after it confirmed earlystage talks with the tech giant sending the automaker’s shares skidding Slideshow  3 images  Wiping 21 billion off its market value Hyundai’s stock slumped 42 by 0330 GMT Shares in its affiliate Kia Corp which had been tipped in local media reports as the likely operational partner for Apple tumbled 12  a 43 billion hit The announcement brings the curtain down on weeks of internal divisions within Hyundai Motor Co Group  parent to both automakers  about the potential tieup with some executives raising concerns about becoming a contract manufacturer for the US tech giant “We are receiving requests for cooperation in joint development of autonomous electric vehicles from various companies but they are at early stage and nothing has been decided” the automakers said on Monday in compliance with stock market rules requiring regular updates to investors regarding market rumours “We are not having talks with Apple on developing autonomous vehicles” Kia shares had jumped 61 after Hyundai appeared to confirm a local media report early in January that Apple and Hyundai were in discussions to develop selfdriving electric vehicles by 2027 and develop batteries at US factories operated by either Hyundai or Kia “Apple and Hyundai are in discussion but as it is at early stage nothing has been decided” Hyundai said before releasing subsequent statements that removed all mentions of Apple but said Hyundai was receiving electric car cooperation requests from parties it didn’t identify Reuters reported in December that Apple was moving forward with autonomous car technology and aimed to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024 Apple known to keep product plans under tight wraps has never acknowledged talks with the automaker about building vehicles and wasn’t immediately available for comment outside business hours in the United States Analysts said talks might have collapsed over leaks of the partnership plan to media or over possible insistence by Apple that Hyundai’s role in any tieup would be that of an equipment manufacturer rather than a strategic partner “With numerous news reports over discussions between the two companies which should have been held to nondisclosure agreements it would have been uncomfortable” said Kwon Soonwoo an analyst at SK Securities Kevin Yoo an analyst at eBEST Investment  Securities said “It seems clear that Hyundai Motor Group has not been too happy with dealing with AppleThey made it clear that they do not want to be treated just as Apple’s supplier or manufacturer”