iCar News: How Much Will the Apple Car Cost? When Will the Apple Electric Car Be Released?

Apple (NASDAQ:AAPL) Car talk is heating up as rumors claim the company is making progress toward the release of its own iCar.

an electric car plugged in for charging, representing electric car stocks
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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.

Article printed from InvestorPlace Media, https://investorplace.com/2020/12/icar-news-how-much-will-the-apple-car-cost-when-will-the-apple-electric-car-be-released/.

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