Apple's electric car could debut as soon as 2025: Bloomberg

Apple is pushing to launch its electric car as early as 2025 and refocusing the project around full self-driving capabilities, Bloomberg News reported on Thursday, citing people familiar with the matter.

The iPhone maker's shares rose nearly 3 percent to hit a new record following the report.

Apple's ideal car would have no steering wheel and pedals, with interiors designed around hands-off driving, the report said.

The company's automotive efforts, known as Project Titan, have proceeded unevenly since 2014 when it first started to design a vehicle from scratch.

Demand for electric vehicles has surged as countries and customers turn more environment conscious, propelling the market value of companies such as Tesla and Rivian far above traditional carmakers around for decades longer.

"It's a matter of when, not if," Wedbush analyst Dan Ives said, adding that chances of Apple unveiling its own standalone car by 2025 as 60 percent to 65 percent.

The Bloomberg report said some people working on the project were skeptical about the timeline even with recent progress, which includes the car's underlying self-driving system, processor chips, and advanced sensors.

Apple declined to comment on the report.

Reuters had reported in December that Apple was targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology.

Meanwhile, The Information, citing a memo, reported that Apple was preparing to bring back employees to offices starting Feb. 1 and will let staff work for up to four weeks remotely each year. (Reuters)
Category and Tags
More stories by
Chinese ride-hailing giant Didi to delist from New York exchange

Chinese ride-hailing giant Didi Chuxing said Friday it would start the process of delisting its shares from the New York stock exchange, shortly after US regulators adopted a rule that would allow them to remove foreign firms.Didi's move comes in the

Spotify Bringing a Vertical Video Feature Like TikTok

Spotify is testing vertical video feeds like TikTok. For now, the music streaming giant has launched a feature called Discover Tab for iPhone. It is unknown at this time whether Spotify will disclose the feature for all or not. News BBC.Spotify's new

Xiaomi to open car plant in Beijing with annual output of 300,000 vehicles

The Xiaomi logo is seen at a Xiaomi shop in Shanghai, China, May 12. ReutersChinese smartphone giant Xiaomi will build a plant that can produce 300,000 vehicles annually in Beijing for its electric vehicle unit, auth...

The United States has Blacklisted a Dozen Chinese Technology Companies

The U.S. government has blacklisted a dozen more Chinese companies citing national security and foreign policy concerns. Washington says a number of organizations are helping develop the Chinese military's quantum computing program. This information

iPhone 14 Pro May Come with Type-C Port Charger

Before coming to the market, the features of the iPhone 14 have been revealed. 14 will be available soon? Such speculation is going on all around. Ever since Apple introduced the iPhone to the market, they have been using their own ports for charging

Follow Business Habit on Facebook, Twitter