The US company Apple has big plans for the electric car market

Already assuming for some time that it would invest in the field of electric cars and launch its own brand, Apple drew attention when it resurfaced with this idea last week, according to information, the multinational has been planning to enter this market for about five years.

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Apple wants to enter the electric car market

Using anonymous sources, Reuters reported that by 2024 Apple will enter the automotive market with autonomous electric cars through the so-called Project Titan. As a matter of fact, Apple had already secured the license from the Department of Motor Vehicles of the State of California for testing autonomous vehicles since 2017. In addition to the brand of the creator of the iPhone, operating system software will also be made available to automakers.

Hired by the multinational, the former vice president of engineering at Tesla Doug Field is coordinating the team that is developing this project. Little is known about the project, but the automobile market is already looking forward to seeing the company's line of electric cars. Despite the launch plans being in 2024, it is likely that the date will be extended to 2025, due to the pandemic of the new Coronavirus.

Tesla currently leads the market

Market analysts have been speculating about this new investment by Apple, given that the company already has a major competitor: the pioneer in the manufacture of electric cars Tesla, followed by Toyota.

“If they keep waiting, could Tesla get so far ahead that Apple could never catch up?” asked DA Davidson analyst Tom Forte.

In any case, investing in a new branch may – or may not – generate another source of income for Apple, given that not all companies have enough capital to invest in the automotive market, especially autonomous vehicles powered by energy. Electric cars are known to be non-polluting agents of the environment, but a large investment is needed to make them real. What is certain is that the company has big plans for Titan and we expect to know more details about this precious project by the end of 2021.