Another day, another report about Apple and its plans to build an electric car. This time we learn that the tech giant wants to begin production of an EV as early as 2020.
According to Bloomberg, which cites people with knowledge on the matter, the tight timeframe proves how serious and aggressive Apple’s goals are. The maker of the iPhone wants to compete with Tesla Motors and GM, both of which are targeting a 2017 release of EVs that can drive more than 200 miles on a single charge and cost less than $40,000.
But why would Apple want to build an electric car? It’s all about profits, obviously. Apple CEO Tim Cook is facing increased pressure to return cash to shareholders and in order to accomplish that he has been pushing the company to enter new product segments.
While Apple representatives declined to comment on the report, the company was apparently inspired by Tesla Motors’ success in creating a startup car manufacturer. Apple also thinks it can bring technical leaps to EV development.
At the moment, Apple’s car team is said to consist of about 200 people, but the company has been aggressively hiring experts in batteries and robotics within the past couple of months, even getting into a legal dispute with A123 Systems for poaching its employees.
According to the lawsuit, Apple hired five people from A123 and tried to hire battery experts from LG Chem, Samsung Electronics, Panasonic, Toshiba and Johnson Controls.
Tesla CEO Elon Musk also said this month that Apple has been approaching his workers, offering $250,000 signing bonuses and 60 percent salary increases.
Note: Apple CarPlay showcased in the Mercedes-Benz C-Class pictured
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