Apple’s Titan electric car project is moving forward, intending to develop a fully autonomous vehicle without a steering wheel by 2025. According to people close to the company who spoke with Bloomberg’s Mark Gurman, this is the case.
As per Bloomberg, the tech giant’s project chief Kevin Lynch decided to go all-in on autonomy rather than starting with a standard EV and later adding self-driving technology. Let’s dive right into the latest Singapore news.
Apple’s newest venture
Following recent AsiaOne reports that Apple is speeding up its attempts to create a self-driving vehicle, the company’s stock hit a new high on Friday. Following the news, Apple’s stock jumped nearly 3 percent to a new high.
Bloomberg News reported on Thursday, citing people familiar with the subject, that the business is pushing to launch an electric car as early as 2025 and centering the project around full self-driving capabilities.
Apple’s plan to enter the automotive market could put the company against Tesla. Not to mention they may also be pit against newcomers like Lucid Motors, Rivian, and other manufacturers who are transitioning away from fossil fuels.
In recent months, electric vehicle stocks have risen as more companies and businesses gamble on what they anticipate will be following the success of Tesla.
Rivian went public the other week in one of the year’s biggest IPOs, swiftly outpacing manufacturers Ford and General Motors in terms of market capitalization. Rivian and Lucid, which went public in July through a special purpose buyout company, have been extremely unstable this week.
Will they or won’t they
Apple’s possible entry into the driverless vehicle area has long been speculated about.
According to the Bloomberg report, Apple’s dream automobile would introduce hands-free driving and would potentially ditch pedals and a steering wheel. The company’s automotive efforts, known as Project Titan, have progressed sporadically since 2014 when it first began designing a car from the ground up.
As governments and customers become more environmentally conscious, demand for electric vehicles has increased, boosting the market capitalization of firms like Rivian and Tesla far above traditional carmakers that have been established for decades to come.
Even with recent improvements, such as the car’s basic self-driving system, advanced GPS, improved sensors, and better processing chips, people that are working on the project remained concerned about the launch schedule.
Apple has not responded to the report. According to some Singapore news reports, Apple plans to create a passenger vehicle in 2024, which might contain its own revolutionary technology when it comes to its battery.
Meanwhile, Apple is said to be preparing to repatriate employees to their offices and will allow them to work remotely for up to four weeks per year, citing a memo.
It’s not without its problems
Engineers from Apple might end up having the “break things fast” mindset, but they must contend with the fact that autonomous driving appears to be slipping further into the future as the full scope of the problem of constructing such systems becomes evident to enthusiasts.
With this in mind, it’ll be interesting to see if Apple’s staff can tackle these issues in such a short amount of time. According to SG news reports, the corporation prefers a lounge-like design, complete with no driver controls and an elegant central display.
It will be interesting to see how far Apple can develop, but after seeing so many other firms’ attempts thwarted by reality, a 2025 launch seems ambitious.
While autos are certainly a new venture for Apple, many analysts believe that the company’s previous experiences in new sectors and vertical interoperability bode well for success. Vehicles may just be the next big thing for Apple to quadruple its profits and market domination.
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