American tech giant Apple will introduce its first-ever vehicle product in 2026, Wedbush Securities Managing Director and Senior Equity Analyst suggested.
Director Daniel Ives’ professional domain provides him with relevant news on almost everything related to technology.
In that sense, he told CNBC that the Apple Car arrival is just “a matter of when, not if.”
Apple Car development
It must be noted that neither Apple nor its Chief Executive, Tim Cook, has confirmed the actual plan involving the company’s first car.
Despite that, there have already been a handful of rumors about the highly anticipated Apple Car in recent years. The project has even been dubbed the company’s “next big thing.”
In early May, Apple hired Ford’s former Safety Engineering Global Director, Desi Ujkashevic. It sparked further speculation that Apple was attempting to accelerate the development of its electric car.
Initial reports suggested that Apple will finally launch a self-driving car by 2025 under the “Project Titan.” However, the company reportedly delayed the project in early December, with indications that the car would not offer self-driving features.
EV-a2z reported at that time that “Apple aims to debut its first smart EV by 2026, despite the setbacks it encountered in its automotive efforts. As for the pricing, it is reported to cost about $100,000.”
The Truth About Cars reported rumors that Apple was negotiating with Toyota and Hyundai Motor Group to aid it in starting vehicle production by 2024. However, subsequent reports claimed that the project was delayed due to the incomplete maturity of autonomous driving features.
It further reported that the company implemented multiple staffing adjustments, including many employee layoffs from 2014 to 2020. Despite all the rumors, Apple seldom mentions Project Titan.
Apple’s mysteriousness about the highly anticipated electric car may simply be its strategy to generate customer excitement.
However, it must also be noted that Ives’ remarks may just be his tactic to pump Apple stock. That would be unsurprising, given his way of promoting tech stocks. He apparently always says that his liked brands are “playing chess.” In contrast, other brands that do not involve him remain “playing checkers.”
See Also:
- Apple delays the launch of its self-driving car until 2026
- Apple iPhone maker Foxconn wants to make cars for Tesla as it ramps up EV push
- Apple Hires Former Ford Executive to Ramp Up Electric Car Program
- Study claims majority of Tesla owners would consider an Apple car
- New Apple CarPlay units up dashboard showdown with Auto-makers
All that said, Apple Car’s arrival in the electric vehicle market remains unclear. Therefore, customers must remain skeptical of any news that suggests significant project development without the company officially confirming them.
