“Don’t expect Apple Inc.’s $1 billion investment in Chinese ride-hailing startup Didi to be its last,” Julie Verhage reports for Bloomberg.

“Morgan Stanley analysts led by Katy Huberty and Adam Jonas recently took a look at Apple’s spending on incremental R&D and found something shocking,” Verhage reports. “Not only is the creator of the iPhone forking out more now than it did when it launched its most successful product, it’s also burning more cash than the top 14 automakers combined, and that’s an industry deep in transformation.”

“While Apple has spent $5 billion on additional research and development from 2013 to 2015, the major players looking to electrify the fossil fuel world spent only $192 million. (Tesla Motors Inc., though not one of the 14, has spent about $444 million over that same time frame),” Verhage reports. “Given the massive size of the shared mobility market, which is $2.6 trillion by [Morgan Stanley] estimates, the revenue potential for Apple is huge.”

Read more in the full article here.

MacDailyNews Take: Apple is doing much more than simply “making an electric car,” they are rethinking, from the ground up, how we’ll get from point A to point B.

(Hello, teleportation!)

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