Apple became the world's most valuable company under the watch of present CEO Tim Cook. But it is undeniable that everything about the tech giant, known for making high-end devices such as iPhone and Mac computers, is attached to co-founder Steve Jobs. When released, the Apple Car is tipped to switch the attention on Cook and deservingly so.
Jobs is long-dead but his legacy lives on. Apple continues to make a killing thanks to the products developed under his supervision. The company exploded when Jobs returned but to Cook's credit, the growth was not only sustained but reached unprecedented heights.
With the rumored Apple Car, Cook is seen to step out from the imposing shadow that Jobs was. The current boss is out to prove that Apple can find success on his own account. The smart car that the company intends to build will bear the sole imprint of Cook, reported the USA Today.
The electric vehicle market segment that Tesla started is the way forward for the automobile industry. It is estimated that 10 years from now, the shift from fuel-powered vehicles to electrified versions will lead to global sales of 20 million units. As expected, Apple is looking to take a leading role in this fast-growing sector.
While it seemed that the iPhone maker is a little late in the game there is no sign that Cook is worried at all. His confidence in becoming a key player in the arena now dominated by Tesla is said to be anchored on Apple's Project Titan.
The program is for the eventual creation of a fully functional futuristic vehicle that likely will be called the Apple Car. And if the recent reports are to be believed, Apple's smart car will boast of a "breakthrough battery technology" and AI-powered self-driving software.
Touting this package, Cook is steering his company outside of its comfort zone to compete in a market where the rivalry is projected to be intense. In his latest research note, analyst Ming-chi Kuo said Apple is significantly behind the competition in the EV market but the Cupertino is not backing down.
Apple's bet is to roll out a competitive smart car that will make a difference due to its AI capabilities. Per Mashable, Kuo predicted that the Apple Car is closely tied to deep learning and AI-related technologies. The company will highlight the smart functionalities of the Apple Car to convince consumers that it is better than what Tesla and other EV makers have to offer.
However, completing the Apple Car will take time and Kuo claimed the vehicle is not coming out in 2024 as earlier reported. The analyst said the realistic commercial debut for the smart car is between 2027 and 2028.