Given Apple’s financial power, as well as its resources and marketing engine, many have described a potential Apple Car as a major threat to the classic automotive industry. Some industry experts even forecasted the Cupertino-based tech giant would end up eating up substantial market share with its EV.
But as far as BMW is concerned, the “competition is a wonderful thing.” These are the words of BMW’s Chief Financial Officer Nicolas Peter, who discussed the potential arrival of an Apple Car in a recent interview with Bloomberg.
“It helps motivate the others,” he continued, explaining that eventually, Apple investing in a car is something that could help the entire industry move forward.
The Apple Car project, internally referred to as Project Titan, has already reached the point when the iPhone maker is now seeking a partner to manufacture the vehicle. Earlier this year, it’s been rumored Apple was in advanced talks with Hyundai and Kia for the production of the Apple Car. Still, negotiations have eventually been dropped when the South Korean firm eventually spilled the beans on the project.
At this point, Apple is still looking for a traditional carmaker to handle the production of its EV, and it’s believed the company is considering several big names, including Renault, Magna, and others. It was even rumored that Apple could partner with BMW for the production of the Apple Car, but given Nicolas Peter's recent comments, there’s a good chance such a collaboration is pretty much impossible right now.