|By Le Williams | 2 years ago|
Analysts have predicted the debut of Apple Car between 2023 and 2025, as the company drives towards its next trillion investment.
As Apple’s “next star product”, the Apple Car is believed to revolutionize the auto industry in a way similar to the iPhone ‘s method within the smartphone market in 2007, according to TF International Securities analyst Ming-Chi Kuo.
Kuo bases this prediction on a belief that there are “huge replacement demands” in the auto sector since it’s being redefined by technological advances, as noted by MacRumors.
Apple’s work in areas, such as augmented reality, put the company ahead of its rivals.
The company may additionally offer “a better integration of hardware, software, and service” than its competitors in the consumer electronics industry or any company in the auto market, and stands to grow significantly by “entering the huge car finance market,” Kuo said.
Apple has not immediately responded to any media requests for comment.
Kuo’s prediction, in particular, runs counter to a rumor that Apple had scaled back its self-driving car program, known as Project Titan.
In early August, engineer Doug Field returned to Apple after a period of time at Tesla to work with Bob Mansfield, who has been leading Project Titan. This follows the June hiring of Jaime Waydo, a former senior engineer with Waymo. Apple became the first US public company to reach a trillion-dollar value.
In 2015, Apple’s Titan team was said to number around 600 individuals. According to recent reports, it is set to triple in the very near future. “This, of course, will put quite a strain on the Silicon Valley automotive engineer hiring pool. Thankfully, it’s an increasingly rich one”, said CNET.