“We expect that Apple Car, which will likely be launched in 2023–2025, will be the next star product,” says Kuo, “the reasons for this are as follows:
- 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;
- Apple’s leading technology advantages (e.g. AR) would redefine cars and differentiate Apple Car from peers’ products;
- Apple’s service will grow significantly by entering the huge car finance market via Apple Car,
- 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 multi-year alleged car project, supposed to have been called Project Titan, was said to have been turned into a tech development project rather than a car project – much like Google’s Waymo – so Kuo’s analysis, if correct, is a shift in strategy.
Recently Apple hired Tesla lead engineer Doug Fields.
Although Apple currently has autonomous vehicles out on the roads for testing, it is assumed that the Apple car will be electric, but not driverless.