Bloomberg News reported on Thursday that Apple is pushing to launch its electric car as early as 2025 and reuse the project around fully self-driving capabilities, referring to people familiar with the matter. To hit a new record following the crash, iPhone maker shares rose nearly 3 percent. With interiors built around hand driving, Apple’s best car will not have steering wheels and pedals, the report said.
The company’s automation efforts, known as Project Titan, have continued unabated since 2014 when it first began designing the ship from scratch.
Demand for electric vehicles has increased as countries and customers have shifted to a more clean environment, pushing the market value of companies such as Tesla and Rivian farther than traditional car manufacturers around long decade.
“It’s a matter of when, not maybe,” said Wedbush analyst Dan Ives, adding that Apple’s world share of its own car by 2025 will be 60 percent to 65 percent.
A Bloomberg report says some people working on the project are skeptical about the timing even with the latest improvements, which include a self-driving car system, processor chips, and advanced sensors.
Apple declined to comment on the report.
Reuters reported in December that Apple was aiming for 2024 to launch a capable car with its own successful battery technology.
Meanwhile, the Information, citing a note, reported that Apple is preparing to bring employees back to the offices starting on February 1 and will allow employees to work remotely for four weeks each year.