Last week’s newsletter highlighted reports that Apple was having talks with Hyundai - Kia about producing an autonomous electric vehicle. Hyundai Motor Group is reporting today, however, those discussions with Apple have now ceased.
I still believe Apple will enter the EV, autonomous technology and mobility solutions space. While Apple has never acknowledged plans to enter this market or work with any automaker, there have been many hints from the company over the past few years.
Tim Cook describing in 2017 that autonomous systems for driverless vehicles is “the mother of all AI projects.”
The 2019 Apple White Paper highlighting the company’s POV on automated driving systems
The hiring of noted EV engineers including some from Tesla
Additionally, some believe the TaaS market will be a $10 trillion global industry. That scale of market size is too significant to ignore even for a company like Apple. This is why companies like Microsoft, Alphabet, and Nvidia (some of the taGMan companies) and others are developing technology to enter the TaaS space.
Disclaimer
TaaSMaster, LLC is not a registered investment advisor or broker/dealer. All investment opinions expressed by TaaSMaster, LLC are from personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors may occur.