Apple Inc is advancing its operations to develop a self-driving passenger car by 2024, which would include innovations in car battery technology also.
This was disclosed in an exclusive report by Reuters on Tuesday morning after speaking with apple staff working on the project.
READ: Uber sells self-driving unit UberATG to Aurora in $4 billion worth deal
Apple’s self-driving car project is called ” Project Titan” and has experienced a couple of gains and losses since it launched in 2014. Apple sacked 190 staff working on the project in 2019, even though it designed its own car from scratch.
Insiders revealed that Apple now has plans to build a customer-friendly passenger car to compete directly with Tesla.
READ: Apple drops 4%, iPhone sales slump
“If there is one company on the planet that has the resources to do that, it’s probably Apple. But at the same time, it’s not a cellphone,” a person who worked on Project Titan said.
The sources disclosed that Apple may soon announce a manufacturing partner for the project and there might be plans to reduce efforts to self-driving software with a traditional carmaker.
The car battery is said to be of the innovative “monocell” that comprises of multiple cell batteries and saves space in the battery pack by removing the need for pouches and modules that hold battery materials.
READ: Apple drops 2%, iphone 12 not exciting
What you should know
The International Energy Agency revealed that sales of electric cars topped 2.1 million globally in 2019, surpassing 2018 – already a record year. Only about 17,000 electric cars were on the world’s roads in 2010. By 2019, that number had swelled to 7.2 million,
READ: Sanwo-Olu launches Nigeria’s first electric car, to complete Lagos-Badagry expressway
Nairametrics reported this week that electric vehicle maker, Tesla Inc’s market cap rose to over $650 billion at the close of its trading session as Tesla will become on Monday, the most valuable company to ever be added to Wall Street’s main benchmark index.
READ: Tesla up 500% in 2020, near $500 billion market value
