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Apple to step into the self-driving cars industry

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Miguel A. Rodriguez
Miguel A. Rodriguez
22 December 2020
Apple to produce in 2024 self-driving cars with "next level" battery technology

The week started with promising news from Apple. As early as 2024, the world would enjoy the first self-driving car produced by the tech behemoth.

According to Reuters, since 2014, Apple is working on what is called Project Titan, which focuses on self-driving cars, and could include its own state-of-the-art battery technology. According to sources, the upcoming design might "radically" reduce battery costs and increase the vehicle range.

Regarding whom would assemble the Apple cars, it is expected from the company to rely on a manufacturing partner. Still, it can step outside of the usual partners zone regarding elements of the car's system, including lidar sensors that will allow the self-driving vehicle to obtain a 3D view of the road.

The production of such a vehicle will put Apple in competition with Alphabet Inc's Waymo – which builds robo-taxis for a driverless ride-hailing service.

At the moment of writing, in pre-market trading, Apple stock gained 2.27%.

Sources: reuters.com, theverge.com, finance.yahoo.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.