The Apple Car may roll out between 2023 and 2025, predicts an analyst, as the company drives towards its next trillion.
The car will be Apple's "next star product" and revolutionize the auto industry like the iPhone did the smartphone market in 2007, TF International Securities analyst Ming-Chi Kuo said in a note, according to MacRumors.
Kuo bases this prediction on a belief that there are "huge replacement demands" in the auto sector since it's being redefined by technological advances. Apple's work in areas like augmented reality put the company ahead of its peers.
It can also offer "a better integration of hardware, software, and service" than its competitors in the consumer electronics industry or any company in the auto market, and stands to grow significantly by "entering the huge car finance market," Kuo said.
Apple didn't immediately respond to a request for comment.
The analyst's prediction runs counter to a rumor that Apple had scaled back its self-driving car program, known as Project Titan.
Last week, engineer Doug Field returned to Apple after a stint at Tesla to work with Bob Mansfield, who has been leading Project Titan. This follows the June hiring of Jaime Waydo, a former senior engineer with Waymo.
Roadshow took a look that what we know about Apple's program in May, as the company grew its self-driving fleet to 55 vehicles.
Earlier this month, Apple became the first US public company to reach a trillion-dollar value.
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