Apple Inc. (NASDAQ:AAPL)’s Apple Car Launch Postponed To 2021


Apple Inc. (NASDAQ:AAPL)’s electric car was anticipated to start shipping in 2020 but according to anew report from The Information, the project might be delayed until 2021. The news comes as a broader story on Apple’s electric car project dubbed Project Titan by The Information. The media site interviewed several people including the profiles of three brothers who are said to have worked on the project.

The one year delay has been caused by computing power issues and recent changes in leadership. It is claimed that Apple is trying to purchase in-house servers to store the amount of data these cars will produce or need to operate. Tesla Motors Inc (NASDAQ:TSLA) opted to use, Inc. (NASDAQ:AMZN) Amazon Web Services (AMZ) to handle this information, but since Apple is more secretive, they want to do this in-house.

The unexpected resignation of project Titan leader Steve Zadesky is also a fact to the shifted data. His resignation, which he cited was due to personal reason, has disrupted the project as new leadership is being put in place.

One thing the article does not appropriately answer is what Apple is aiming to bring into the market. It is believed that the car will be fully electric, but on the issue of whether it is fully autonomous or semi it isstill unknown. Apple has always ignored or deflected questions of whether even the car exists. The last piece of news around the vehicle car came in the form of Apple looking into its charging solution that would replace gas station for EV driver. Apple also made a billion dollar investment in DidiChuxing, China’s Uber International C.V., a move is seen as a sign of interest in the car space.

Whatever Apple decides to do, its vehicle will enter a market with strong competitors e.g Tesla. The company’s CEO has previously noted that the rumored 2020 release date might be too late.

1 Chart Pattern Every Investor Should Know

This little-known pattern preceded moves of 578% in ARWR, 562% in LCI, 513% in ICPT, 439% in EGRX, 408% in ADDUS and more...

Click Here to See This Now.

(Visited 229 times, 1 visits today)