Apple, who has allegedly had hundreds of engineers working on a car, would like to begin production on their electric vehicle by 2020, reads a new Bloomberg report.
If accurate, Apple's car could be ready to compete with Tesla and GM, both of which are fighting to bring the first electric car that can go over 200 miles per charge and cost less than $40,000, a major price point for consumers.
While Tesla has the leg up in the technology of the electric car world, Apple could very quickly catch up with the $178 billion in cash it is sitting on. The company has been hiring battery, car and robotics experts, and there are an expected 200 engineers working on the project now.
In fact, Apple has been so aggressive in hiring, that has been accused of "poaching" employees from battery maker A123 Systems and others like LG Chem, Samsung, Panasonic and Johnson Controls. Experienced car makers take about 5 to 7 years to bring a new concept and vehicle to market, says industry experts, but Apple has no experience in the space and is still trying to keep the same time frame.
As with all other Apple products, we will not have any confirmation on whether Apple is actually making the product until the day it's released.
(The pic is a random concept art, but hey it looks cool)
While Tesla has the leg up in the technology of the electric car world, Apple could very quickly catch up with the $178 billion in cash it is sitting on. The company has been hiring battery, car and robotics experts, and there are an expected 200 engineers working on the project now.
In fact, Apple has been so aggressive in hiring, that has been accused of "poaching" employees from battery maker A123 Systems and others like LG Chem, Samsung, Panasonic and Johnson Controls. Experienced car makers take about 5 to 7 years to bring a new concept and vehicle to market, says industry experts, but Apple has no experience in the space and is still trying to keep the same time frame.
As with all other Apple products, we will not have any confirmation on whether Apple is actually making the product until the day it's released.
(The pic is a random concept art, but hey it looks cool)
