South Korea carmaker Kia’s shares jump 14.5% on Apple EV tie-up report

South Korea’s Kia Corp shares surged to their highest in over two decades on Wednesday after a local media report said the carmaker will sign a 4 trillion won ($3.59 billion) deal with Apple Inc to build electric vehicles.

Shares in Kia, an affiliate of Hyundai Motor Co, jumped as much as 14.5% to hit its highest since 1997 at 102,000 won on Wednesday.