Apple Shares Spike After Report Suggests Full-Self-Driving EV Launch In 2025

Apple Shares Spike After Report Suggests Full-Self-Driving EV Launch In 2025

Apple shares are spiking Thursday mid-day after several new pieces of information about the tech giant’s ongoing vehicle project hit the wires, including that the company was accelerating development of its EV.

About three hours into the cash session on Thursday, Bloomberg pushed several headlines, including others that indicated Apple had reached a milestone in developing a processor for its vehicle and that the company is aiming for an autonomous vehicle “without steering wheels” or pedals:

*APPLE ACCELERATES CAR WORK, AIMS FOR FULLY AUTONOMOUS VEHICLE

*APPLE REACHES KEY MILESTONE IN DEVELOPMENT OF PROCESSOR FOR CAR

*APPLE AIMING FOR AUTONOMOUS CAR WITHOUT STEERING WHEEL, PEDALS

Follow up reporting from Bloomberg indicates that the project is going to be refocused “around full self-driving capabilities”, something now-competitor Tesla seems to be having a hard time with.

Under Apple executive Kevin Lynch, Bloomberg reports that Apple is “pushing for a car with a full self-driving system in the first version, said the people, who asked not to be identified because the deliberations are private.”

While Apple declined official comment, a source told Bloomberg that the company’s “ideal car would have no steering wheel and pedals, and its interior would be designed around hands-off driving.”

“The car would also be heavily integrated with Apple’s existing services and devices,” the report said, and would have a large iPad-like touch screen in it.

Apple has also “completed much of the core work on the processor it intends to eventually ship in the first generation of the car,” Bloomberg wrote. 

The chip was reportedly designed by Apple’s silicon engineering group, instead of the car team. Apple could soon make its way to road testing, the report concluded. 

More from Bloomberg:

The hope is to develop a vehicle that can spare customers from driving fatigue when they’re on long trips. But building an actual car — for an auto industry outsider like Apple — will require partnerships. The company has discussed deals with multiple manufacturers and has considered potentially building the vehicle in the U.S. Even with recent progress, creating a fully self-driving car by 2025 is seen as very aggressive within Apple. Some people within Project Titan are skeptical about the timeline. Safety is a major piece of the puzzle. Apple is looking to build stronger safeguards than what’s available from Tesla and Waymo, engineers involved with the effort say. That includes creating plenty of redundancy — the ability for layers of backup systems to kick in to avoid safety and driving system failures. 

Apple is in the midst of hiring software engineers to work on “experiences for human interaction with autonomous technology,” a job listing for the company currently says. 

“Tesla, the market leader in electric vehicles, is still probably years away from offering fully autonomous cars,” Bloomberg added.

TSLA shares are down a little on the news…

But the recently-minted EV players are getting slammed…

Developing…

Tyler Durden
Thu, 11/18/2021 – 12:36

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