“The Piper Jaffray analyst says an Apple car is ‘closer to 10 years away than 5 years,’ yet a bright long-term prospect for the company,” Andrew Nusca reports for Fortune.
“There have been several reports documenting progress for Apple’s so-called Project Titan,” Nusca reports. “A February report in The Wall Street Journal revealed that ‘several hundred employees’ had been allocated to the effort. A company executive called the automobile the ‘ultimate mobile device’ three months later at an industry conference.”
“But Munster has a few things to say for himself about Titan. ‘If Apple makes a ‘car’ as we know it today, we expect it to be an electric vehicle that is likely priced in the luxury’ — as in more than $50,000 — ‘market,’ he writes,” Nusca reports. “All of this comes with the usual caveat: Apple often works on projects that never come to fruition. But Munster is clear that an Apple vehicle is ‘more poised for meaningful disruption’ than any Apple TV product.'”
Read more in the full article here.
MacDailyNews Take: While Apple can certainly afford to put a lot of effort into R&D projects that’ll never come to fruition, “Titan” seems to be quite the project already. You don’t sink the sort of resources into, and attract the level of talent already onboard for, an effort unless you have some real ideas about what you want to bring to market and why.
It goes without saying that Apple would create a premium vehicle, premium-priced for premium customers as usual, not a some low-end crate.
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