Apple might build an autonomous car. Who gets the call to be a partner?
$Apple(AAPL.US$ is back front and center of the talk in the electric vehicle sector with Bloomberg reporting the tech giant is targeting a launch of a self-driving car in four years. Apple's progress in developing a chip made up primarily of neural processors that can handle the artificial intelligence needed for autonomous driving is the driving force in pushing the Apple Car project ahead again. Previous reports indicated that $Taiwan Semiconductor(TSM.US$ would likely make the autonomous chip for Apple. The company has also held discussions on battery options with Contemporary Amperex Technology Co and $BYD Co.(BYDDF.US$.
The general consensus on the initiative is that Apple will seek out a manufacturing partner. But who? Wedbush Securities thinks Apple is very likely to announce a strategic partnership next year that lays out the groundwork needed to enter the autonomous vehicle space. In his update, analyst Dan Ives mentions H $HYUNDAI MOTOR CO GDR EACH REP 1/2 PFD N/VTG(REG'S')(CIT)(HYMTF.US$, $Tesla(TSLA.US$, $General Motors(GM.US$, $Ford Motor(F.US$ and $VOLKSWAGEN AG(VLKAF.US$ as potential partners, while noting a partnership in China could include $XPeng(XPEV.US$ or $NIO Inc(NIO.US$. Other companies being bandied around Wall Street as potential AAPL partners include $Magna International(MGA.US$, $Stellantis NV(STLA.US$ and Foxconn.
The Apple autonomous car news sent shares of many auto stocks a bit lower after they were already in negative territory. Notable decliners include $Lucid Group(LCID.US$, $Rivian Automotive(RIVN.US$, $Mullen Automotive(MULN.US$, $Canoo(GOEV.US$, $AYRO Inc(AYRO.US$, $Electrameccanica Vehicles(SOLO.US$, $Fisker(FSR.US$, $GreenPower Motor(GP.US$, $Workhorse(WKHS.US$, $Nikola(NKLA.US$, $Arrival(ARVL.US$, $Faraday Future Intelligent Electric Inc.(FFIE.US$ and $Proterra(PTRA.US$.
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William Paul : Not sure how much $$ Apple sees on their bottom line from Apple Carplay, but it has become the gold standard in rental cars. This concept could be taken a lot further without having to spend billions on a single car brand that may or may not work. If Apple can fit more "Apple type " functionality into automobiles in a generic way like Apple Carplay, they could conquer the car business from the inside out.
fly up high : Apple stands for higher-end quality products so Lucid should be the natural partner as they are also building higher-end electric cars.
Indicator analyst : Apple playing the long game where cars are essentially entertainment pods which is a game they can & will win. The same is true for the home. This is essentially how Apple doubles its market cap by reaching these new addressable markets.
SebastianKohYS : Partnership with lucid maybe ??
Drdrdoky : I see apple symbols on dashboards soon
UANM5SC6Ea : Apple: "The best time to plant a tree was 20 years ago; the next best time is 5 years from now because it like takes so much water and we want to see what trees other people plant, and idk if I like this type of tree, or whether I can steal gardeners from the other field across the way"
kradic34 : automatic! Don't even have a steering wheel
yo5swZ8f6A : "Siri, take me to first street" "Ok, taking you to thirsty meat"
9eb4qiNAAD : Microvast Holdings will supply the batteries??
Benly8 : Not likely with WKHS. BIgger players will get the pie
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