Apple’s Automatic, Electric Car With No Steering Wheel, Pedals Will Launch On This Date (Shares Up By 3%!)
Apple Electronic Vehicle Launch
The Cupertino-headquartered company is refocusing the project around full self-driving capabilities, according to the sources.
Following the report, the iPhone maker’s shares rose nearly 3% to hit a new record.
The report suggests that Apple’s ideal car would have no steering wheel and pedals, with interiors designed around hands-off driving.
Apple Unveiling Its Own EV
Apple Inc’s automotive efforts are also known as Project Titan.
Since 2014, the project proceeded unevenly when it first started to design a vehicle from scratch.
In the meantime, the demand for electric vehicles has surged as countries and customers turn more environmentally conscious.
This seems to be propelling the market value of companies such as Tesla and Rivian far above traditional carmakers around for decades longer.
The Wedbush analyst Dan Ives said that “It’s a matter of when, not if,”.
Further, adding that the chances of Apple unveiling its own standalone car by 2025 as 60% to 65%.
Interestingly, some people working on the project were skeptical about the timeline even with the recent progress that includes the car’s underlying self-driving system, processor chips and advanced sensors.
So far, Apple has not commented on the report.
Earlier in December, it was reported that Apple was targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology.
Employees Returning To Offices
In the meantime, the tech giant is all set to call employees back to the office under a new hybrid work plan.
Reportedly, Apple CEO Tim Cook said, in an email to all employees that the new hybrid work model will come into effect from February 2022.
Prior to this, Apple had said that employees will have to be back in the office in September.
With the latest updates, Apple deferred that plan to January 2022 as the number of coronavirus cases shot up in the US.