Apple car won't be launched before 2025, claims expert
Apple's elusive electric vehicle won't be sticking to either the rumored 2021 or even the later 2024 launch dates, according to noted analyst Ming-Chi Kuo. The analyst predicts the car to be launched sometime between 2025 and 2027, possibly even later. In a research note obtained by Mashable, Kuo further doubts Apple's capability to deliver a competitive product as per prevalent industry standards.
Apple began working on Project Titan in 2014, with around a thousand employees working on the vehicle. By 2016, there were rumors that Apple had shelved the endeavor. In June next year, Apple CEO Tim Cook spoke on autonomous vehicles, confirming their ongoing interest in the project. This was shortly followed by Apple re-hiring Doug Field, who is a noted expert in the space.
Earlier this month, reports cited Taiwanese auto ancillary factories rushing shipments to Apple for an alleged September 2021 launch. Kuo dismissed these rumors as knee-jerk reactions targeted primarily at inflating the stock value of companies linked to the project. The lack of vehicle specifications, launch schedule, and Apple's actual competence in the space were cited as some of the reasons for invalidating these rumors.
Kuo claims it won't be easy for Apple to produce a competitive product. Other self-driving car makers have accumulated at least five years of big data. This puts them in a better position to utilize deep learning and artificial intelligence. Apple won't be able to bridge the gap quickly. Further, uncertainty continues to breed in terms of supply chain and vehicle's specifications.
Meanwhile, the global autonomous vehicle market demand is expected to expand at a CAGR of 63.1% until 2030. The transportation segment is expected to grow at the CAGR of 86.4% over the forecast period. General Motors, Volkswagen, Mercedes-Benz, and BMW are making significant R&D investments.