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The tech giant is apparently developing a vehicle with cheaper batteries and a longer range. Insiders say, “It’s like the first time you saw an iPhone.”
Fans of the tech giant these days have to be content with iPhones and Apple Car Play in their vehicle. But an autonomous car from Apple should hit the market starting in 2024, experts say.
Photo: Paul Sancya (Keystone / AP)
Traditional automakers will soon face new competition: According to experts, Apple is targeting the introduction of an autonomous passenger car in 2024, which could contain a breakthrough in battery technology. Development of a car of its own, which began in 2014 as part of “Project Titan,” is also well advanced, two people familiar with the matter told Reuters news agency. A central element is the newly developed batteries, which could provide more range at significantly lower costs, another person said. “It’s like the first time you’ve seen an iPhone,” he said of the new battery. The US group declined to comment.
The report on the car’s plans was well received by Apple shareholders: Shares rose 3 percent Tuesday in premarket trading in the United States. “If Apple has made a breakthrough in batteries, it could be a significant step forward because battery costs are one of the sticking points in mass production of electric cars,” said Amit Daryanani, an analyst at the banking advisory firm. investment Evercore.
Batteries in single cell design?
According to two experts, car parts are likely to come from suppliers. This includes the lidar sensors the car uses to get a sense of its surroundings. It is not clear who will be responsible for assembling the vehicle. Circles said Apple could work with a partner here. In any case, it cannot be ruled out that Californians will end up happy with an autonomous driving system that would be installed in cars from a traditional manufacturer. Additionally, two insiders said the coronavirus pandemic could delay plans until 2025 or later.
According to one of the people, the batteries will be built according to a new “single cell” design. Individual battery cells would be strengthened and available space increased. In addition, Apple is examining the use of lithium iron phosphate (LFP) technology, with which the risk of overheating is significantly lower than with other lithium-ion batteries.
As part of Project Titan, Apple initially took the approach of building your own car. Meanwhile, the group shifted its focus to software. In 2018, former Apple executive Doug Field returned from Tesla to the maker of the iPhone and laid off 190 members of the Titan team a year later. Meanwhile, Apple also had talks with Magna International about producing a car. Initially, a statement from Magna was also unavailable. A former Titan employee certified that Apple could put its own car on wheels, even if it wasn’t easy. “If a company has the resources, it will probably be Apple,” the person said. “But at the same time, it is not a mobile phone.”
Apple shares are gaining ground
The report on plans to own a car is well received by Apple shareholders. Newspapers gained nearly three percent when America went public. “If Apple has made a breakthrough in batteries, it could be an important step forward because battery costs are one of the sticking points in mass production of electric cars,” said Amit Daryanani, an analyst at the banking consultancy of Evercore investment. Sensor maker Velodyne Lidar’s shares also gain a good 13 percent in premarket trading in the United States.
