Shares of LG Electronics, LG Corp and LG Innotek rose early on Thursday after local media reported that LG Corp had formed an advisory body to manage the supply of parts for the Apple Car project.
According to the report, the body was created at the request of the Cupertino, California-based smartphone maker.
The committee will coordinate Apple Car’s work with LG Corp’s related companies, including LG Electronics, LG Innotek and LG Energy Solution.
The director of LG Corporation denied the information.
“It’s just not true,” he said.
LG Electronics rose 5.59 percent to 90,700 won ($71.12) by Thursday afternoon, while LG Innotek was up 1.81 percent to 281,500 won. LG Corp rose 2.03 percent to 80,600 won.
Apple’s car has been in the works since 2014, and news about its release date has surfaced from time to time. Project Titan, as it is known, is quite a step back, especially in terms of autonomous driving ambitions.
The trade press is now talking about a 2026 target date for availability.
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