It is the first time to discuss specific release timing
On the 21st (local time), Reuters reported that “Apple aims to produce autonomous vehicles with breakthrough batteries in 2024,” citing multiple officials. However, Reuters reported that the actual release year may be postponed to 2025 or later as the procurement of core parts is delayed due to the spread of the novel coronavirus infection (Corona 19). Apple avoided official confirmation of this, but the market responded immediately. On the same day, Apple’s stock price rose 1.24% on the New York Stock Exchange, while Tesla stock fell 6.5%.
This is the first time that Apple’s self-driving electric vehicle release timing has been specifically discussed. In 2014, Apple started developing an electric vehicle with a new autonomous vehicle division named’Project Titan’. In June 2017, Tim Cook, Apple’s CEO, acknowledged the development of an electric vehicle, saying, “We are focusing on the autonomous driving system.” However, there have been observations that Apple has “given off self-driving cars” after firing Titan developers several times.
According to foreign media, Apple has internally confirmed a plan to launch an electric vehicle that can be used by passengers in 2024. It has been investing steadily in the development of self-driving electric vehicles, such as recruiting Doug Field, vice president of new car development from Apple to Tesla, again in 2018.
View larger-It is known that the core strategy of Apple’s automobile is a battery with its own design. The lithium iron phosphate (LFP) battery, which is said to be Apple’s choice, has a lower range of mileage than lithium-ion batteries, which are generally used in electric vehicles. The battery industry explains that Apple is expected to increase the mileage of LFP batteries by applying a’monocell’ design that eliminates the pouch containing battery materials. Reuters said, “This is the next level of battery technology. It was the same feeling when I first saw the iPhone,” an official commented. The domestic automobile and battery industry is also watching Apple’s movement. Lee Hang-gu, a research fellow at the Korea Automobile Research Institute, said, “The rapidly growing electric vehicle market will be a’market that has no choice but to enter’ from the standpoint of Apple.” In addition, it is positive for Apple that it is not difficult for new companies to procure major auto parts as there are many existing parts makers that have improved their constitution in preparation for the era of electric cars.
However, industry analysis is that in order to settle into a proper business and make profits, it is necessary to have the capability to manufacture and sell more than 100,000 electric vehicles per year. An official from the domestic battery industry said, “Tesla, established in 2003, made a surplus only in 2019. Apple will also need a lot of time.” Another official said, “A number of automakers have professed to develop their own batteries, but no place has been commercialized until now. I would entrust the production of vehicles and batteries to other companies, but it would have the effect of increasing the overall size of the market.”
Hong Seok-ho [email protected], reporter Kim Do-hyung
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