Business & Investment

Apple is reportedly renewing its plans for electric vehicles — “when is the problem and not?”

According to Thursday’s report, Apple Inc. is trying to speed up its car development program with a focus on self-driving capabilities.

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We’ve been exploring the development of both fully autonomous electric vehicles and vehicles with less autonomous driving capabilities, but now we want to focus on fully autonomous driving options. Bloomberg News reported Thursday. Apple reports that it wants to introduce the car within four years, but previously targeted a period of five to seven years.

read: How Apple’s buy-back party lasts for another 15 years

Bloomberg’s report continues, referring to more established automakers like Tesla Inc, as Apple’s ability to reach new goals depends in part on whether it can complete its self-driving technology in time. Did.

Despite years of development, it is not yet ready to launch a fully autonomous vehicle.

When it comes to design, Apple is considering omitting the steering wheel and pedals, according to a Bloomberg report, but it could enable an “emergency takeover mode.”

Apple’s automotive sector has recently changed at the top, with Dougfield taking over the effort after spending time as head of engineering at Tesla. Departure for Ford Motor Company.

In September, while the outflow of top executives in the department was reported. Apple has replaced him with Kevin Lynch, an internal manager known to work for the Apple Watch. He has no car experience, but employs experienced employees, including a recent hire from former Canoo Inc.

Chief Executive Officer Ulrich Kranz When Christian Moore, former head of automated software development for Tesla..

Apple did not respond to MarketWatch’s request for comment on its plans for electric vehicles.

After the Bloomberg report was released, Wedbush analyst Dan Ives said, “I continue to believe that it’s not about whether Apple will be in the EV race, but someday.” He expects Apple to have a 60% to 65% chance of launching a “unique stand-alone car” by 2025.

Ives expects the company to announce a partnership to advance its automotive ambitions by the end of 2022.

“Given the strategic product risks of such a huge effort, and the implications for future margins and financial models, Apple has begun building its own vehicle / factory instead of following the EV path. I want to do that, “he writes.

Apple’s share surged shortly after Bloomberg’s report was released, rising 2.6% in Thursday afternoon trading. On average, the Dow Jones Industrial Average has seen Apple’s share price rise 7.7% over the past three months.
Counting Apple as a component increased by 2.7%.

Apple is reportedly renewing its plans for electric vehicles — “when is the problem and not?” Apple is reportedly renewing its plans for electric vehicles — “when is the problem and not?”

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