Apple Electric Car 2024: Price, Release Date, Features, Specs & Rumors

Apple Electric Car 2024

It is changing into more and more believable that an Apple (NASDAQ: AAPL) electrical vehicle (maybe dubbed an “iCar”) will go into manufacturing in 2024 or shortly afterward. It will have been an iPhone second (a watershed occasion) for the electrical automobile enterprise, significantly in america. Elevated EV gross sales would improve demand for batteries and EV metals.

Vital Potential for Apple Automobile

With greater than 1 billion lively iPhones and 1.65 billion Apple merchandise in use worldwide, Apple has an especially devoted fan following. Along with 194 million iPhones, 71 million iPads, 20 million Macs and MacBooks, 110 million AirPods, and 43 million Apple Watches, Apple bought 194 million iPhones in 2020. Over 40 million individuals subscribe to Apple TV+, in comparison with 72 million for Apple Music.

Apple would promote 16.5 million electrical autos yearly (for a few years), or round 20% of the roughly 80 million cars bought worldwide annually, if only one% of their “merchandise” base, or 1.65 billion Apple gadgets worldwide, have been used to buy an Apple electrical car. In a distinct gentle, Apple would promote 19.4 million cars yearly if it simply bought 10% as many automobiles because it does iPhones. Producing that many new electrical autos annually can be a giant problem and would must be constructed up over the approaching decade, very like Tesla is doing at present, so clearly, these are just a few “aspirational benchmarks” to gauge the doable demand for an Apple vehicle

Apple Electrical Automobile Venture

The Apple electrical automobile challenge, usually often known as “Titan,” is an electrical car initiative being labored on by Apple Inc. 5,000 personnel have been stated to be engaged on the challenge as of 2018, nevertheless, Apple has but to publicly deal with any of its self-driving analysis. A self-driving workers shuttle van based mostly on the T6 Transporter business car chassis was purportedly produced by Apple and Volkswagen in Could 2018. Based on a BBC story from August 2018, Apple has 66 autonomous autos that have been registered for the highway and 111 drivers who have been approved to drive them. In lieu of real Apple-branded cars, it’s stated that Apple remains to be engaged on self-driving-related {hardware}, software program, and companies as potential merchandise in 2020. Based on a December 2020 story from Reuters, Apple was contemplating a 2024 debut date, however analyst Ming-Chi Kuo stated it would not occur till 2025 and won’t occur till 2028 or later.

The purpose of Apple’s car challenge was to create an autonomous car.

  • A self-driving Apple vehicle geared toward prospects is being developed by tons of of firm workers.
  • The precise vehicle challenge remains to be in progress.
  • Anticipated iOS integration at depth.
  • The DMV has issued a allow for autonomous testing.
  • software program being tried for self-driving.

Based on stories, Apple can also be growing a self-driving shuttle service often known as “PAIL,” which stands for “Palo Alto to Infinite Loop.” Workers might be transported between Apple’s workplaces in Silicon Valley through the shuttle program. In a collaboration with Volkswagen, Apple will put its self-driving software program in T6 Transporter autos that might be used as workers shuttles.

 If Apple launched an electrical vehicle, who would profit and lose?

  • Apple (assuming they will make a hit of the iCar and enhance earnings).
  • electrical car producers. Most likely Magna or Foxconn. Magna can be my prediction given their experience in producing cars, significantly electrical autos. Magna will even assist Apple whether it is chosen – Lately, LG Electronics established a three way partnership to offer important components of the electrical car drivetrain, equivalent to electrical motors, inverters, onboard chargers, and, for sure automakers, related e-drive methods. Alternatively, Hyundai/Kia (OTC: KIMTF) is a viable possibility. Canoo, a supplier of electrical platforms, is a strong lengthy shot.
  • suppliers of electrical autos, significantly batteries. Most certainly, BYD Co. or CATL is the battery supplier. Since BYD needs the batteries for their very own EVs, I would hazard a guess that CATL.
  • If Apple chooses to make use of a lithium iron phosphate (LFP) chemistry, the lithium miners would possible be the best winners. Moreover, miners of graphite and uncommon earth minerals might prosper. the copper miners to a lesser extent.


  • As a consequence of elevated competitors, different automakers like Tesla threat dropping market share. There’s a case to be made that EV companies might be OK as a result of Apple will hasten the adoption of EVs, significantly within the US.

Some Considerations:

  • Apple would possibly decide to do nothing or merely provide in-car companies or autonomous driving software program.
  • Apple might select to go it alone and design and produce every thing, together with batteries, in-house. This might be a protracted journey and is implausible.
  • Apple might not construct a car, however somewhat an autonomous Apple shuttle.
  • Enterprise risks (EV manufacturing dangers, funding, administration, forex, sovereign threat).
  • Inventory market risks (sentiment, dilution). Apple is extraordinarily rich and therefore can fund an iCar challenge or an acquisition. Many traders are involved that Apple’s entry into the car enterprise might scale back its web revenue margins. This may be mitigated to some extent by offering Apple car companies, autonomous driving packages, and, at some point, a robotaxi community.


Apple would promote 16.5 million electrical autos a yr, or almost 20% of the 80 million cars bought worldwide if only one% of their “merchandise” base (1.65 billion Apple gadgets worldwide) have been used to buy an electrical car. In a distinct gentle, Apple would promote 19.4 million cars yearly if it simply bought 10% as many automobiles because it does iPhones. There’s undoubtedly an enormous risk for Apple right here. Over the next ten years, scaling up manufacturing to those ranges can be extraordinarily troublesome.

It’s extra believable that Apple will quickly reveal some sort of electrical automobile on condition that the corporate is outwardly now in talks with two of the highest LFP battery producers, BYD and CATL. By 2024, if stories are true, we might be capable to purchase an Apple electrical car. For EVs, this may be a giant publicity enhance and triumph.

My greatest prediction is that Apple will collaborate with both Foxconn or Magna Worldwide for contract manufacturing within the US, and BYD or CATL (I assume CATL) for batteries (I assume Magna). The LG Chem/Magna or BYD/Foxconn mixtures may be used if the CATL/Magna mixture is wrong. Though Hyundai has rejected the idea, Hyundai/Kia is another choice.

Prematurely of an announcement, traders have the choice to accumulate Apple shares or any of the doable suppliers (equivalent to the most important battery producers and EV steel miners). My opinion is that everybody taking part in an Apple vehicle can prosper, particularly given the probability of Apple’s success and the large and devoted client base they’ve. Merely buying Apple shares at present and sitting on them for ten years is probably the simplest and most secure technique to flourish.

As a result of Apple has been so secretive about its ambitions, there are dangers related to an Apple vehicle as a result of most of this data relies on speculative and rumors (claims from sources). Moreover, it is possible that Apple might make a very surprising transfer, equivalent to buying Lucid Motors (CCIV), buying Canoo, working with a lesser-known Chinese language contract producer, or doing it alone with out using a contract producer or battery maker. A self-driving electrical shuttle may be produced as a substitute of a Automobile. Learn the hazards part rigorously.

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