Electric vehicle maker Tesla Inc. TSLA has its own independent strategy, but tech giant Apple Inc. AAPL is one to watch amid the “convergence” of automotive and information technology industries in future mobility, according to battery pioneer Akira Yoshino.
What Happened: Yoshino, a co-winner of the 2019 Nobel Prize in chemistry for his work on lithium-ion batteries, made the comments in an interview with Reuters.
See also: How To Buy Apple (AAPL) Stock
Yoshino, now an honorary fellow at Japanese chemical firm Asahi Kasei Corp. AHKSY, believes Apple may “announce something soon” regarding the Apple Car or the kind of battery that may be used in the vehicle.
“They probably want to get in around 2025. If they do that, I think they have to announce something by the end of this year,” Yoshino was quoted by Reuters as saying.
Why It Matters: Rumors about Apple accelerating its efforts on the Apple Car project have been floating around since last year. Several potential partners were reported but Apple has remained tightlipped about its foray into the crowded EV field.
Over time, rumors also suggested Apple has scaled down its plan to build a full-fledged car and is now looking at developing an underlying self-driving car system.
It was reported in July that Apple is looking to manufacture batteries for the Apple Car in the U.S. and may work with Taiwanese battery makers.
Price Action: Apple shares closed almost 0.1% lower in Tuesday’s regular trading session at $149.62 and further edged down less than 0.1% in the after-hours session to $149.60.
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