Speculations of an upcoming Apple Car have swirled around the internet for years.
Apple first established its autonomous electric vehicle ambition, called Project Titan, five years ago. As exciting as the news was, the Cupertino-based company managed to shroud it in secrecy — until recently.
Last month, Reuters suggested that the Apple Car production may begin around 2024. Shortly after, another report from Korea Economic Daily predicted a 2027 release date.
Now, an article from CNBC states that Apple is currently working to find a manufacturer for its self-driving car. And one of such prospects is South Korean multinational car maker, Hyundai Motor Company.
In a statement to CNBC’s Chery Kang, a representative from Hyundai Motor said:
“We understand that Apple is in discussion with a variety of global automakers, including Hyundai Motor. As the discussion is at its early stage, nothing has been decided.”
The auto company later revised the statement with no mention of Apple. The iPhone makers, on the other hand, declined to comment on CNBC’s report.
Meanwhile, analysts are considering the implications of a self-driving Apple Car.
The Implication of a Self-Driving Apple Car
Apple’s current business involves manufacturing and selling smartphones, computers, and accessories.
These include the Apple Watch, AirPods, and MagSafe chargers, to name a few. Then there’s the business’s services aspect, which includes Apple Music, iCloud, Fitness +, and Apple TV, among others.
In other words, cars are a different sector from the tech giant’s traditional strength.
For this reason, analysts have differing opinions of Apple’s venture into the automotive industry. While some think it’s a new market for the tech company to grow into, others believe the project may be too ambitious.
According to Analysts Daniel Ives and Strecker, Apple only had a 35 to 40 percent chance to build its own car.
That’s due to “herculean-like auto production capabilities and battery technology ramp.” Then there are the financial model implications and regulatory hurdles involved in such a game-changing endeavor.
However, Tesla has enjoyed massive success in the electric vehicle space. So, it’s not so far-fetched that an Apple Car could become popular in the coming decades.
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