We could see an Apple Car as early as 2023 according to one analyst
Apple’s Project Titan was first rumored back in 2014. Since then, there has been a regular ebb and flow of news associated with Apple’s secret venture.
The so-called “Apple Car” was the talk of the Silicon Valley earlier this decade — until it wasn’t. Now, it looks like Apple could once again be on track to introduce an automobile in the next few years.
In a note to investors that began circulating late Tuesday, Apple analyst Ming Chi-Kuo says he expects Apple to introduce a car between 2023 and 2025. Calling it the company’s “next star product,” Kuo contends Apple plans on revolutionizing the automobile market much like it did with smartphones with the iPhone in 2017.
As first published by MacRumors, Kuo’s note explains:
We expect that Apple Car, which will likely be launched in 2023–2025, will be the next star product. The reasons for this are as follows: (1) Potentially huge replacement demands are emerging in the auto sector because it is being redefined by new technologies. The case is the same as the smartphone sector 10 years ago; (2) Apple’s leading technology advantages (e.g. AR) would redefine cars and differentiate Apple Car from peers’ products; (3) Apple’s service will grow significantly by entering the huge car finance market via Apple Car, and (4) Apple can do a better integration of hardware, software, and service than current competitors in the consumer electronics sector and potential competitors in the auto sector.
Apple’s “Project Titan” was first rumored back in 2014. Since then, there has been a regular ebb and flow of news associated with Apple’s secret venture. Earlier on, most of the chatter suggested Apple would do it alone and release an automobile. Later, perhaps because of a slowdown in news about the project and repeated instances of Apple employees jumping ship to Tesla, most assumed the “iCar” was dead. Instead of a full-blown automobile, most assumed Apple’s automobile aspirations would be limited to its software-only CarPlay initiative.
Kuo’s findings shouldn’t be taken lightly. The TF International Securities analyst is perhaps the most renowned and respected Apple analyst in the business. His note comes just days after it was reported that Doug Fields had returned to Apple, this time to help manage Project Titan, after spending five years as Tesla’s lead engineer. In his previous stint, he served as a vice president of the company’s Mac division.
Were Apple actually to announce a car, it would almost certainly become the biggest tech news in the upcoming decade. Still, it doesn’t come without potentially expensive risks. Stay tuned.
Would you buy an Apple Car? Let us know below.
In other Apple news, see:
- Apple could launch their own AR glasses as early as 2020
- Verizon Unlimited customers will soon be able to get 6 months of Apple Music for free
- Apple assures lawmakers in Washington that it is not listening to your conversations