Photo: Apple
Apple is yet to confirm its electric vehicle project, despite the company occasionally dropping hints that it’s indeed eyeing an expansion in the auto sector.
But on the other hand, people with knowledge of the matter said the iPhone maker has been increasingly active behind the closed doors, as it’s trying to take care of every little detail related to its upcoming car in an approach similar to the one it uses for smartphones.
Codenamed Project Titan, Apple’s EV is expected to see the daylight at some point in 2025, though the ETA could easily change overnight if something in the planning or production phase goes wrong.
This is one of the reasons Apple doesn’t typically disclose launch dates, as any potential disruption could then have an impact on its release calendar and eventually on brand image and share price.
But if the Apple Car indeed launches in 2025, the tech giant could end up selling no less than 1.5 million units until 2030.
This is according to Bernstein analyst Arndt Ellinghorst, who explained in a note to investors obtained by CNBC that EVs could generate no less than $75 billion in revenue for Apple in the short term.
The Apple Car is seen as the iPhone of the automotive industry, with its debut expected to have nearly the same impact as the smartphone back in 2007 when it officially hit the shelves.
At that point, the iPhone significantly hit the rest of the phone industry, with companies that were until that point leading the market, including the likes of Nokia and BlackBerry, recording a drop in sales.
In the long term, the Apple Car could become a money-making machine, and the tech firm knows this very well, though it all depends on the early impact the vehicle is going to have on the automotive industry. Apple is well aware that getting the Apple Car right is critical, and this is why it’s not necessarily in a rush to bring it to the market.
Codenamed Project Titan, Apple’s EV is expected to see the daylight at some point in 2025, though the ETA could easily change overnight if something in the planning or production phase goes wrong.
This is one of the reasons Apple doesn’t typically disclose launch dates, as any potential disruption could then have an impact on its release calendar and eventually on brand image and share price.
But if the Apple Car indeed launches in 2025, the tech giant could end up selling no less than 1.5 million units until 2030.
This is according to Bernstein analyst Arndt Ellinghorst, who explained in a note to investors obtained by CNBC that EVs could generate no less than $75 billion in revenue for Apple in the short term.
The Apple Car is seen as the iPhone of the automotive industry, with its debut expected to have nearly the same impact as the smartphone back in 2007 when it officially hit the shelves.
At that point, the iPhone significantly hit the rest of the phone industry, with companies that were until that point leading the market, including the likes of Nokia and BlackBerry, recording a drop in sales.
In the long term, the Apple Car could become a money-making machine, and the tech firm knows this very well, though it all depends on the early impact the vehicle is going to have on the automotive industry. Apple is well aware that getting the Apple Car right is critical, and this is why it’s not necessarily in a rush to bring it to the market.
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