Apple Car will be a reality by 2023-2025 and Apple will reach its market cap of $3 trillion. It is also believed that Apple's car is the worst kept secret in Silicon Valley.
Investors and many analysts across the world think that Apple Car is dead and the American tech giant has given up on building its first car. However, the iPhone maker is likely to launch a new the Apple iCar between 2023 and 2025 said a top Hong Kong-based Apple analyst. He further said that Apple will earn its 2 trillion dollar market cap through its various existing business, augmented reality headset and an Apple car said Ming-Chi Kuo, TF International Securities.
Ming-Chi Kuo had worked with KGU Securities earlier and had sent a note to investors, outlining expected new products from Apple to be launched in future. It is expected that like how the iPhone revolutionized the mobile phone market in 2007, Apple's new car will disrupt the automobile market giving a strong fight to the likes of Tesla's and Toyota's. However, Kuo did not provide details of the possible car or when exactly it might be unveiled and nor has Apple shed any light on the same.
Interestingly, Apple has the most permits to operate self-driving cars in California, US than any other company including Uber and other automakers. Tech and automobile influencers and many experts say that Apple car is the worst-kept secret of the Silicon Valley.
Other rumours suggest that Apple plans to pick some stale in McLaren to make its iCar project a reality. The Financial Times earlier had reported that McLaren's Applied Technologies Group that supplies electronics to F1 and Nascar racing would be ideal for Apple's self-driving electric car project. In August 2016, Apple also signed an NDA (non-disclosure agreement) with a South Korean battery manufacturer for cylindrical lithium-ion batteries. These lithium-ion batteries are expected to be used on the new Apple's driverless car.
Globally every automaker including the likes of Mercedes-Benz, Audi, BMW, Nissan, Ford, Toyota and GM is working on developing self-driving cars and Apple's entry will create more disruptions and its tech knowledge might overshadow the strengths of traditional automakers.