1. Most Discussed
  2. Gainers & Losers

Apple to build icar - long lasting batteries

  1. Jonno07

    856 Posts.

    http://nypost.com/2015/02/13/apple-kicking-the-tires-on-producing-an-icar/

    Apple CEO Tim Cook, who is about to roll out the company’s first piece of wearable tech with a watch, may be looking to get a lot more mileage out of another new gadget: an iCar.

    Apple has built up a roster of engineers, recruiters and designers who have previously worked at Tesla Motors and could even be in the process of building its own car, according to a report Friday.

    The ramp-up, along with an increase in research and development spending, has revved up speculation that Apple could soon compete with Elon Musk’s Tesla — or even Google’s self-driving cars, according to the report in the Financial Times, which talked to analysts closely watching the company.

    “If Apple’s building a car, we expect they would be doing something very different from traditional car manufacturers,” Brian Colello, an analyst at Morningstar, told the FT. “We don’t expect Apple to get involved unless they can truly change the game.”

    There is also chatter that Apple, which has $178 billion in cash on its balance sheet, may be eyeing an investment in Tesla, which has a market cap of $25 billion.

    “[Tesla’s] not profitable whatsoever, but that doesn’t mean [Apple] shouldn’t pursue them,” Andrew Zamfotis, an analyst at EVA Dimensions, told The Post. “Nothing’s going to be profitable on day one.”

    Apple could also be developing longer-lasting batteries with the former Tesla engineers, Colello said.


    iCar? Apple’s Titan Car Project to Challenge Tesla

    Wall Street Journal

    http://www.wsj.com/articles/apples-titan-car-project-to-challenge-tesla-1423868072

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.