What would you do if you had 178 billion dollars? Apple is determined to invest it in self-driving cars and establish mass production by 2020. According to the research by Automotive Consulting Group, major car manufacturers spend 5-6 years on creating a car. Could Apple gain such results from scratch? We’ll see.
But Tim Cook is ready to risk, taking into account that iGiant this year has gained record-breaking $18bn of net income and has resources at hand to establish on a new arena. The company has experience of entering new markets - iPods that made a revolution in music back in the day speak for themselves.
In order to launch an assembly line in five years, Apple has already started luring specialists from other companies. According to LinkedIn profiles, more than 640 Apple employees have automotive industry experience, and 46 of them have left Tesla to join the company.
Wall Street Journal claims that the company has even created a separate division with former Ford’s engineer Steve Zadesky heading it, who also previously helped to create iPod. All project insights are classified under the code name “Titan”. Nevertheless, it’s logical to suppose that division’s activity will include development of new battery for electric car, because Apple is actively luring away specialists of this segment from Samsung, Panasonic, А123 Systems and LG.