This combination of pictures created on April 2, 2019 shows the Kia logo in Detroit, Michigan on Jan 10, 2017, and the Hyundai logo on April 7, 2017 in Colma, California. (SAUL LOEB, JUSTIN SULLIVAN / AFP / GETTY IMAGES NORTH AMERICA)

SEOUL - South Korea’s Hyundai Motor Co said on Monday it is not now in talks with Apple Inc on autonomous electric vehicles, sending the automaker’s shares skidding a month after it said it was in early-stage talks on cars with the tech giant.

Shares in Hyundai and its affiliate Kia Corp slumped 6.6 percent and 14 percent respectively as of 0204 GMT while the broader market KOSPI benchmark dropped 1 percent.

The comment came in response to a local media report that Apple and Hyundai were in discussions to develop self-driving electric vehicles by 2027 and develop batteries at US factories operated by either Hyundai or Kia

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In separate regulatory filings, Hyundai and Kia both said, “We are not having talks with Apple on developing autonomous vehicles.”

In early January, shares in both automakers surged - after Hyundai said, “Apple and Hyundai are in discussion, but as it is at early stage, nothing has been decided.” So far this year, Hyundai shares have surged more than 20 percent, while Kia has rocketed 40 percent on reports they may build an Apple car.

The comment came in response to a local media report that Apple and Hyundai were in discussions to develop self-driving electric vehicles by 2027 and develop batteries at US factories operated by either Hyundai or Kia.

But the automaker backtracked the same day, releasing subsequent statements that removed all mentions of Apple but said Hyundai was “getting requests for cooperation on joint development of autonomous electric vehicles from various companies”, without identifying any of them.

Apple has never acknowledged talks with the automaker about building vehicles, and was not immediately available for comment outside business hours in the United States.

READ MORE: Sources: Apple targets self-driving car production by 2024

Apple was reported to move forward with autonomous car technology and aimed to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.