Tuesday November 20, 2018
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Apple Car: No More a Dream, Will Be Launched by 2025!

Many industry watchers have called the Apple Car the worst-kept secret of the Silicon Valley

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Apple may delete 'WhatsApp Stickers' from App Store. Flickr Commons
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As industry watchers think that Apple car is dead, the iPhone maker could launch it anytime between 2023 and 2025, a top Apple analyst with Hong Kong-based TF International Securities has claimed.

“Apple will earn its 2 trillion dollar market cap through its services business, an Augmented Reality headset, and an Apple Car, according to famed Apple analyst Ming-Chi Kuo who now works for TF International Securities,” MacRumors reported late on Tuesday.

The analyst, who was earlier with Taiwan-based KGI Securities, has reportedly sent a new note for investors, outlining products that he expects to be released by Apple in future.

“Apple will launch an Apple Car some time between 2023 and 2025, with the car set to be positioned as ‘the next star product’. Kuo foresees the Apple Car revolutionising the automobile market much as the iPhone did back in 2007,” the report added.

Apple Car
Representational Image. Flickr

However, Kuo did not provide details of the possible car or when exactly it might be unveiled.

The Cupertino-based company has largely remained silent on its plans about the Apple Car.

Also Read: Cars Powered by New Fuel Type Tested in Australia

Notably, it has more self-driving car permits in the US state of California than any other technology company.

Many industry watchers have called the Apple Car the worst-kept secret of the Silicon Valley.(IANS)

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Robyn Denholm Replaces Elon Musk As Chairman Of Tesla

Musk accepted the deal with the SEC "without admitting or denying the allegations of the complaint", according to a court document.

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Tesla acquires trucking firms to deliver Model 3 on time: Musk. Pixabay

 Electric car company Tesla on Thursday announced the appointment of Robyn Denholm, an executive at Australian firm Telstra, to become the Chair of the Tesla Board.

Denholm takes over the role from Elon Musk who agreed to step down as Chairman of Tesla for three years and pay a $20 million fine in a deal with the stock market regulatory authority, Securities and Exchange Commission (S.E.C.) to resolve securities fraud charges.

Musk will remain as Tesla’s chief executive.

“Robyn will be leaving her role as CFO and Head of Strategy at Telstra, Australia’s largest telecommunications company, once her six-month notice period with Telstra is complete. Robyn will be serving as Tesla Chair on a full-time basis,” Tesla said in a statement.

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A Telsa car recharges at a Tesla charging station in Charlotte, N.C. VOA

To ensure a smooth transition during the remainder of Robyn’s time at Telstra, Musk will be a resource to her and provide any support that she requests in her role as Chair.

“Robyn has extensive experience in both the tech and auto industries, and she has made significant contributions as a Tesla Board member over the past four years in helping us become a profitable company,” said Musk.

“I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy,” he added.

Denholm has served on the Tesla Board as an independent director since 2014.

Her global experience in both Australia and Silicon Valley encompasses leadership roles across a range of technology companies, including Telstra, Juniper Networks, and Sun Microsystems.

Tesla CEO Elon musk
Elon Musk agrees to step down as Chairman (VOA)

“I believe in this company, I believe in its mission and I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value,” said Denholm.

The US SEC last month announced the deal with Tesla, after it sued Musk in federal court for misleading investors over his post on Twitter in August that he had “funding secured” for a buyout of the electric-car company at $420 a share, reports The New York Times.

Also Read: Elon Musk Shows a New Transportation System Being Developed Under LA

Musk accepted the deal with the SEC “without admitting or denying the allegations of the complaint”, according to a court document.

His tweet about taking his company private, along with attacks on critics on social media, raised concerns with investors about whether Musk has become too focused on criticism from so-called short-sellers who had been making bets against him and the company. (IANS)