Apple Inc. (NASDAQ: AAPL) The car project has been in full swing, according to a technical journalist Mark Gurman.
What happened: Gurman pointed to the Apple Watch software manager Kevin Lynch led the company’s car efforts in recent weeks and his pressure to accelerate the development of the electric vehicle.
“Now he is pushing the team behind the project to accelerate development, with an eye on debuting a car so early [as] 2025, “Gurman wrote in his weekly newsletter.
The Apple-focused journalist noted that Lynch wants the first version of the vehicle to be completely autonomous and not have steering wheel or pedal controls.
“It̵[ads1]7;s an ambitious and aggressive plan and absolutely fascinating to follow,” Gurman wrote.
See also: How to Buy Apple (AAPL) Shares
Why it matters: Resumed rumors surrounding the so-called Apple car drove the shares to Tim Cook-led the company into record territory last week.
Loup Ventures analyst Gene Munster put the chances that Apple will eventually release a car of 50% and said that it is probably more than five years away.
Although Apple has given itself a four-year timeline to launch a car with the more advanced, fully autonomous technology, the iPhone maker may not be able to meet the set deadline, it can either delay the launch or launch a vehicle with less advanced technology, as according to a Bloomberg report.
This month it was reported that the Apple Cars concept is similar Tesla Inc. (NASDAQ: TSLA) Cybertruck.
Price action: On Friday, Apple shares rose 1.7% to $ 160.55 in the ordinary session and rose 0.27% in the after-hours session.
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