After so many rumors swirling around Apple Inc. (NASDAQ:AAPL)’s electric car, it is confirmed that Apple is aiming to begin the production of its electric cars in 2020. It’s not a secret anymore, as Bloomberg reported that Apple is determined to start production of the electric vehicles in 2020, as said by the people having knowledge of the matter, whereas Tesla Motors Inc (NASDAQ:TSLA) and General Motors Company (NYSE:GM) are aiming to release their newest electric vehicles in 2017.
“That’s the inflection point, the proving ground that brings on the electric age. Now you have Apple coming in and this is critical mass. Was GM really going to be able to match Tesla? Apple can,” Steve LeVine, author of ‘The Powerhouse’ said.
According LeVine, whose book is about the automotive battery industry, it brings on an electrical age and dealing with General Motors Company (NYSE:GM) as a competitor was not a tough job for Tesla Motors Inc (NASDAQ:TSLA), whereas but Apple Inc. (NASDAQ:AAPL) can really give it a very tough time as the No.1 tech giant in the world, which is very famous for the security and reliability of its products, concerns that are even more important in a vehicle than a gadget.
Typically, it takes five to seven years to develop a car, underscoring how aggressive the project’s goals are. Apple Inc. (NASDAQ:AAPL) seems to be quite aggressive in this given its massive cash flow and technological expertise, which paves the way for them to aggressively bring a completely new product to market, one that could be self-driving and revolutionary. However, even with all its cash flow, it’s not that easy when it comes to the mass production of electric cars. You have to set up the strategy, build up the team and make the resources available that could help you in achieving your mass production goals.
It is wide open space of opportunities for whoever has the best idea. Tesla Motors Inc (NASDAQ:TSLA) and General Motors Company (NYSE:GM) are looking to release their newest electric vehicles in 2017, which could be a benefit for Apple Inc. (NASDAQ:AAPL), as it can take their latest ideas and improve upon them. There’s a risk that people might not trust electric cars at all, or especially self-driving cars, as it will involve artificial intelligence, which is not so reliable. Apple is pushing its team to start the production in 2020 but it will not only be a race of time; reliability and performance will be the main concerns of the consumers.
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