Wired
According to reports, investment bank Piper Sandler analyst Harsh Kumar (Harsh Kumar) said on Wednesday that the debut of “Apple Car” may not disrupt the auto market, but it may become a stable source of hardware revenue for Apple. It is expected by 2030 Bring in revenue of $50 billion.
Kumar said in a report to investors: “In general, we believe that Apple’s entry into the automotive market is completely meaningful. Similar to other hardware products, Apple can enter the market at the peak of this technology. Can avoid market risks.”
Apple may initially launch Apple Car electric cars on a small scale, equipped with an upgraded CarPlay system, or Apple-branded car user interfaces. However, Kumar believes that Apple will eventually launch a “mature Apple brand electric car.” By then, Apple can control all aspects of the design, including electric vehicle hardware and built-in software platforms.
Kumar also cited previous media reports, saying that Apple’s goal may be to achieve 100,000 sales in 2024 (mass production goal). He said that based on this, Apple can create about $5 billion in revenue with only less than 0.1% of the market share. If it reaches 1% market share by 2030, it will bring Apple $50 billion in revenue.
Kumar believes that now is the right time for Apple to enter the auto market. This is largely because Apple is ready for technological innovation. In addition, as products such as iPhone and Mac mature, Apple also needs additional revenue to drive growth.
Kumar also pointed out that even if the “Apple brand” is selected, the company will choose third-party manufacturers to produce this product. He said that Apple does not assemble its own hardware products. Nonetheless, Kumar believes that Apple’s development of automotive technology has been brewing for many years. Compared with competitors, this car will have powerful technology.
Of course, the biggest obstacle is Apple’s search for manufacturing partners. Kumar believes that automakers do not want to be the “Foxconn of the auto industry.”
As early as 2014, it was reported that Apple had assembled more than 1,000 employees to conduct research and development of an electric car code-named “Project Titan” in a secret location near its headquarters in Cupertino. However, there were reports at the end of 2016 that Apple had scaled down the car’s research and development project and had no intention of building a complete car, but instead focused on the development of autonomous driving software systems.
There were reports in December last year that Apple is advancing self-driving car technology, with the goal of producing a passenger car that may include its own breakthrough battery technology as early as 2024.
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