Apple may start output of its electric vehicle by 2020

Article by Christian A., on February 22, 2015

Apple is reportedly is pushing its secret team to commence output of an electric vehicle as early as the end of the decade, people privy with the matter told Bloomberg. Carmakers usually spend between five to seven years to develop car, which means that the timeframe for Apple’s new project indicates aggressive goals.

An Apple EV is expected challenge current pioneers of such vehicles -- Tesla Motors and General Motors -- both of which are aiming to roll out by 2017 models that could travel over 200 miles on a single charge and cost less than $40,000. Steve LeVine, author of “The Powerhouse,” said on Bloomberg TV that the launch of those EV will be inflection point that brings on the “electric age.”

After posting $18 billion in profit in the last quarter, Apple has around $178 billion in cash – a lot of money that could be used to finance a number of new projects. Apple chief executive Tim Cook has been pushing for an entry into new categories to make the company’s products and services more ubiquitous among consumers.

Entering the auto industry would mark a similar track that Apple had taken before. It was not the first to offer a digital-music player or smartphone, but was able to redefine these products.

In a similar manner, Apple may not be the first to offer an EV, but it may redefine the category. But it has first to challenge Tesla, which has shown that the traditional barriers of entry into the auto industry are not really that difficult to hurdle.

If you liked the article, share on:

Topics: apple, electric car

Comments

Recommended

It has been nearly eight years since Toyota entered a new era of sports cars when it officially unveiled the production version of the Toyota 86 – also known as...
by - February 27, 2019
The new Audi TT RS – yes, the top version of the German carmaker’s facelifted TT model series – is now officially here. If you could remember, the range-topping TT...
by - February 18, 2019
Nearly half a year ago when McLaren Automotive unveiled the McLaren 600LT Coupe, the British carmaker is now introducing a version that lets its passengers enjoy the thrill of an...
by - January 25, 2019
German carmaker Volkswagen is now making the latest evolution of the new Volkswagen Golf GTI -- the new Golf GTI TCR. First unveiled as a concept at the annual GTI...
by - January 24, 2019
It has been three and a half years since BMW unveiled the sixth generation of the BMW 7 Series. Thus, it is really about to give the 7 Series a...
by - January 17, 2019