One of them is Apple, a tech giant that has become famous for its FBI-like secrecy and its efforts to prevent any information from reaching the press.
So we’ve known for some time that Apple is working on a car, but the Cupertino-based iPhone maker has so far been completely private on everything. Plus, he would insist all his partners do the same just because the Apple Car is seen as a priority product for his long-term strategy.
Earlier this year, for example, there were rumors that Apple discussed Apple Car plans with Hyundai, the South Korean company which at one point was in pole position to deal with the manufacturing process for this mysterious product. But someone at Hyundai inadvertently spilled the beans on the talks, and Apple’s big honchos were said to have been so upset about it all that they abruptly ended all talks with the automaker.
So yes, the Apple car is as mysterious as it gets, but that doesn’t necessarily mean we haven’t got our hands on some essential information. And today we try to answer the main questions about this highly anticipated Apple project.Why is Apple building a car?
First of all, why is Apple, a company that has already conquered the tech world, considering building a car?
While there are multiple reasons why a tech company would thrive in the automotive industry, for Apple it all comes down to the opportunity to increase their profit margin and therefore make more money. The iPhone is already a money-making machine, and it’s no secret that Apple makes a lot of money with every unit sold, but with a car the profit margin would be significantly higher.
Apple is currently the most valuable company in the world with a market cap of over $ 2 trillion, and an Apple car is seen as a product that could easily help grow to $ 3 trillion in just a few short years.
As the automotive world increasingly focuses on technology, it is easy for a giant like Apple to explore this industry, especially since it has always invested in premium approaches that have allowed it to sell its products. products at rather high prices. Thus, Apple’s technological know-how, combined with its growing appetite for profit, matches the technological revolution of the automotive market like a glove.
Will the Apple car be a conventional model?
No. The next Apple Car will be a EV, and there’s a good chance it will at least support Level 3 autonomous driving, although autonomous capabilities are still being worked out as we speak.
This is why many see the Apple Car as a complete Tesla rival, especially because both companies have aggressively invested in technology that could find its way into future cars.
Rumor has it that the Apple car will land in the form of a sedan that will use all kinds of next-gen tech, and while Apple has already secured a series of very ambitious plans, you can be sure not all of them will end up. enter. mass production.
But on the other hand, there is no doubt that the Apple Car will be the pinnacle of the technological revolution in the automotive industry, especially since this is exactly how the Cupertino-based company wants its EV be distinguished from the rest of the crowd.
Who will build it?
Apple has already been trying for many months to find someone to build the Apple car, but at this point the company has come up with two different options. It will therefore either be Foxconn, the long-time Apple partner who is also the leading iPhone maker, or a joint venture between LG and Magna.
LG recently abandoned the mobile phone business, promising to focus more on other sectors, including electric vehicle manufacturing, so a partnership with Magna for the production of the Apple Car would ensure a prosperous future. in this regard.
Apple has previously talked about a potential partnership with a range of mainstream automakers, including Hyundai, Nissan and possibly others, but according to people familiar with the matter, the company has encountered a roadblock each time. And the reason is as simple as it could be: No automaker wanted to become a mere contract manufacturer for Apple.
When will the Apple car launch?
Since this is a work in progress, the debut of the Apple car is subject to change overnight, but at this point it looks like Apple wants to offer a prototype within two or three. next few years, while the production model could be announced. in 2023 or 2024 at the earliest.
Previously, it was rumored that a trial version of the Apple car is expected to see the light of day in 2022, although this would only be the case if Apple reaches a deal with a traditional automaker.
Since everything is progressing slowly, the Apple Car prototype could now be revealed in 2023, although as we said everything can change overnight if something goes wrong.
Analysts believe Apple will confirm the Apple car later this year, but that’s rather unlikely given that the company typically doesn’t comment on new products until the official announcement.