Cupertino-based company Apple is rumoured to be working on a self-driving car. The Apple Car may roll out between 2023 and 2025, predicts an analyst, as the company drives towards its next trillion, reports MacRumors.
Apple will earn its two trillion dollar market cap through its services business, an augmented reality headset, and an Apple Car, according to reputable Apple analyst Ming-Chi Kuo, who now works for TF International Securities and today sent out a new note for investors outlining products that he expects to see in Apple’s future.
According to Kuo, Apple will launch an Apple Car sometime between 2023 and 2025, with the car set to be positioned as “the next star product.” Kuo foresees the Apple Car revolutionizing the automobile market much as the iPhone did back in 2007.
“Apple’s leading technology advances (e.g. AR) would redefine cars and differentiate Apple Car from peers’ products,”Kuo said in a report.
“Apple’s service will grow significantly by entering the huge car finance market via Apple Car, and Apple can do a better integration of hardware, software, and service than current competitors in the consumer electronics sector and potential competitors in the auto sector,” he added.
The claims run counter to recent reports that said Apple had shelved its plans to develop a car, due to internal disagreements and a desire to pursue the technology behind self-driving cars instead.
Apple hasn’t revealed much publicly about its self-driving car program, referred to internally as Project Titan.
In May, it was revealed that Apple’s self-driving car fleet had grown to 55 vehicles.
Edited by Neo Sesinye
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