Apple Car doesn't require Tim Cook to build an auto-assembly line
The long-rumored Apple Car is reportedly in the works, but Wall Street analysts say it probably won't be the standalone vehicle fans of the tech giant are hoping for.
While Apple's so-called Project Titan, its 2014 autonomous vehicle initiative, has set a goal of producing a standalone vehicle with "groundbreaking" battery technology by 2024, analysts don't believe this will mean CEO Tim Cook from scratch, according to Reuters start vehicle production.
The chances that Apple will launch its own vehicle by 2024 are only 35% to 40%. wrote Dan Ives, an analyst at Wedbush Securities. He noted that it would take even longer to produce an autonomous vehicle for safety and regulatory reasons.
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However, there are methods that are on the verge of an automated assembly line that the iPhone maker could use to enter the market.
According to Ives, Apple is entering into a strategic partnership with an established company like Volkswagen or Tesla, whose CEO Elon Musk reached out to the tech giant to buy the electric car maker when he was struggling financially in 2017.
Such an approach is also being considered by the Chinese technology giant Baidu, according to a recent Reuters report.
Rod Hall, an analyst at Goldman Sachs, believes Apple could take the service provider path - much like the company did with television - although the integration options and the ability to create software and hardware are superior.
Tech Firms Want To Enter The Auto Business "Because of the huge amount of time future consumers are likely to be spending in self-driving vehicles using information services on their way from point A to point B," Hall wrote.
While the space for electric vehicles could grow to $ 1 trillion in the next decade, which is a tremendous opportunity, the auto industry's profit margins are lower than those of technology, he noted. This could make the service model more attractive to Apple.
Additionally, Apple fans and investors alike should be warned that many of the products / strategic ideas that come up in the labs "ultimately never leave the confines of Apple Park," said Ives.
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