In this video, I will be talking about the Apple (NASDAQ: AAPL) car rumors and the recent comments from Porsche's CEO regarding their partnership. You can find the video below but here are some of the highlights.
- In late 2021, rumors surfaced that Apple was working toward a fully autonomous car with no steering wheel or pedals, with a launch aimed for 2025.
- Apple originally started to work on the car project in 2014 but since then, there's been nothing but rumors circulating and no actual product or prototype.
- Foxconn, Apple's main supplier, introduced in late 2021 three autonomously developed electric vehicles for the first time.
- Last week, new rumors surfaced when Porsche's CEO announced the company's annual results. But Apple fans shouldn't get too excited; the discussions were mainly about software such as Apple CarPlay.
- Even if Apple were to make a car, it would take years to ramp up, and the competition is fierce. It would make more sense for Apple to focus on the in-car experience rather than an Apple-branded car.
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*Stock prices used were the closing prices of March 21, 2022. The video was published on March 22, 2022.
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