Apple, Inc.'s AAPL self-driving car project has been a long time in the works. An analyst who is fairly accurate with his predictions about various Apple products and events, has hinted at a potential delay from the 2025 launch timeframe that has been rumored.
What Happened: The Apple Car team has been dissolved for some time, Ming-Chi Kuo, an analyst at Hong Kong-based TF International Securities, said in a tweet.
The analyst also said if Cupertino does not reorganize the unit in the next three to six months, it may not be able to begin mass marketing of the Apple Car by 2025.
Apple is known for its superior execution with its products. The Apple Car has been an exception. Despite the company refraining from making any public comment on the project, there have been on and off rumors of Apple getting serious about the venture.
Related Link: Apple Car Rumor Nudges Shares Into Record Territory; What Its Success Means For The Tech Giant
The company initially assembled a team for a self-driving car in 2014, with the project codenamed "Titan."
It never really progressed much, with a lack of clarity on project goals and the loss of several top executives and engineers serving as impediments. After a long hiatus, the Apple Car rumors resurfaced in late 2021.
The company was reportedly scouting for partners from among chip companies, contract manufacturers, battery suppliers and automakers. None of the speculated partnerships materialized.
Subsequently, it emerged that Apple could go solo.
Bloomberg's Mark Gurman said in November 2021 that the company's self-driving car team under Kevin Lynch is doubling up efforts to launch a fully autonomous car without a steering wheel and pedal by 2025.
Why It's Important: The iPhone is still a cash cow for the company. It is always good to zero in on the next promising opportunity before revenues from this flagship products plateau off.
Apple is among very few companies that can consistently deliver excellent hardware, software and services, and this rare competency can help the company to taste success with its car project, according to Loup Funds analyst Andrew Murphy.
At last check, Apple shares were up 2.56% at $154.48.
Related Link: Apple Car Hits Stalemate: Talks With Battery Manufacturers CATL And Buffett-Backed BYD Reportedly Stalled
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