Apple (NASDAQ:AAPL) Car talk is heating up as rumors claim the company is making progress toward the release of its own iCar.
While there are no hard details about a possible iCar, that hasn’t stopped people from wanting to know more. Here’s a quick roundup of what readers need to know about the latest Apple car rumors.
- Unfortunately, there have been no rumors about how much customers would have to pay for the electric vehicle (EV).
- Sources say that the company is targeting private customers instead of the ride-sharing market.
- That’s a change from the previous speculation concerning the iCar.
- Two different sets of rumors claim that the Apple Car will come out in different years.
- The more wild one says that the tech company is targeting a 2021 release for its autonomous vehicle.
- However, a more reasonable report claims that the iCar won’t see a release until 2024.
- Unnamed sources also claim that delays due to the novel coronavirus pandemic could push the beginning of production back to 2025 or later.
- What may be most interesting are Apple’s plans for a new type of battery design for its car.
- According to inside sources, the company is working on major changes that will result in cheaper-to-make batteries that offer more range.
- It also looks like Apple is planning to outfit the vehicle with lidar sensors.
- Anonymous sources say some of these could derive from its own internal development but others will be from third-party creators.
- It’s still unknown who would make an Apple Car.
- The company isn’t likely to do it itself, so it will have to reach out to other manufacturers.
- AAPL previously talked with Magna International (NYSE:MGA) about having it make the vehicle but it’s unclear if there’s still a chance of that happening.
- New speculation for the Apple Car comes almost two years after major layoffs were made to the Project Titan team.
- Project Titan was the codename for the company’s autonomous vehicle back when development first began in 2014.
AAPL stock was up 4.5% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.