26453
Apple’s Electric-Car Project Speeds Ahead
World Economy

Apple’s Electric-Car Project Speeds Ahead

Apple appears to be driving ahead with plans to build its first car. The electric-car project, code-named Titan, is now targeting a ship date of 2019, and Apple gave leaders of the project approval to triple their 600-person team.
A “ship date,” though, doesn’t necessarily mean the date customers get a product, it was reported. Instead, that term could mean “the date that engineers sign off on the product’s main features.” So, the unveiling of an Apple car may be far down the road, Cnet.com quoted the Wall Street Journal as reporting Monday. Apple declined to comment on the Journal’s story.
Apple’s ambitions to potentially build a car first came out in February, with new leaks reported regularly since then. Apple–the most valuable company in the world by market capitalization–has been hiring auto industry veterans for the project throughout the year, bringing on people from battery maker A123 Systems, automaker Fiat Chrysler and others, according to several reports. Bloomberg earlier this year said that Apple was planning to have a car ready for production as early as 2020.
The car is quickly becoming a major battleground for new technologies, with many tech and auto players looking to add more gadgets, displays and smarts to future vehicles. Autonomous cars are expected take over roads in the coming generation. With the Titan project, Apple is likely hoping to become an important leader in shaping the future of automobiles, instead of taking a backseat to incumbent automakers.
The new project could become Apple’s most ambitious effort into a new market, following the company becoming a major player in smartphones and tablets. Despite Apple’s $200 billion in cash reserves and ability to hire droves of auto experts, however, questions remain about whether Apple could become a car seller. For one thing, it’s unclear who would build Apple’s vehicle if it does become ready for production. Most auto companies operate their own production facilities, with only a few small contract factories available. Apple tends to contract out its production work and doesn’t operate factories.

Short URL : https://goo.gl/7CE54N
  1. https://goo.gl/chaqma
  • https://goo.gl/YBSZBl
  • https://goo.gl/mxr0v2
  • https://goo.gl/hWB28t
  • https://goo.gl/spVgU7

You can also read ...

While the tariff conflict may still be in its infancy,  global trade growth rate has almost halved.
The global economy will continue to expand strongly in the...
Imran Khan Says Economic Revival a Priority
Pakistan Prime Minister Imran Khan on Thursday said that the...
Zimbabwe is in arrears of nearly $1.8 billion  to the World Bank and ADB .
The International Monetary Fund Thursday said it was ready to...
Poland to Maintain Solid Growth
Polish economy’s all significant macro fundamentals appear...
Global Stocks Hit 6-Month High
World shares hit their highest levels in more than six months...
Premier Li Keqiang has  voiced confidence in China’s ability to overcome obstacles.
Chinese officials are shrugging off warnings that the trade...
Wells Fargo Will Cut Workforce
Wells Fargo & Co said on Thursday it would reduce its...
King Khaled International Airport
Saudi Aramco may have grabbed the biggest headlines, but the...

Trending

Googleplus