“When an industry goes through transformation, I think it’s natural that new players look at the industry,” Daimler CEO Ola Kallenius said in an interview with CNBC’s Annette Weisbach. ”There will be intense competition.”
Without a doubt, Apple is the company that everybody keeps their eyes on, especially as the iPhone maker is currently the world’s valuable firm, with a market cap that exceeds $2 trillion.
And given its tech resources, Apple is expected to develop one of the most advanced autonomous cars to date. At the same time, the company would still need help from other firms for the manufacturing process.
And that is exactly what the Cupertino-based tech brand is trying to deal with right now, as Apple has reportedly been in talks with several carmakers over the Apple Car production. However, talks with Hyundai, Nissan, and possibly others have already failed, so Apple is now likely to work with a joint venture between LG and Magna that would specifically establish EV production lines for the Apple Car.
According to people familiar with the matter, the Apple Car should see the daylight by 2024 at the earliest, with a prototype expected rather sooner than later, especially if the company finds someone to manufacture the vehicle.
In the meantime, Xiaomi has also confirmed a massive investment in the car market. Other big names, such as Huawei and Google, are also involved in various projects that would help them step into the automotive business.