The development of electric vehicles started out within the auto industry, but as the popularity of these cars continue to grow, development has stretched well past the confines of the auto world. We already know that Apple is on the path towards developing its own EV with what has been referred to as “Project Titan.” Not much has been detailed about the project, but new information has been brought to light by analyst Gene Munster of Piper Jaffray regarding Project Titan.
According to Munster, Apple has has more than 1,000 people working on the project, signifying a serious intent to push the development of Project Titan to meet its deadline. The tech giant is keen on having the vehicle ready to make its debut in 2019 or 2020 with an eye towards sales beginning in 2021. A price tag of $75,000 has also been thrown out for the Apple electric car, making it slightly more affordable than the base Tesla Model S. Considering that the timetable is still five years away, it’s unlikely the price has been set in stone.
As expected, Apple is heavily invested on the design of its electric car and there’s no indication that the company would outsource this part of the project to anybody else. That said, the actual build of the car is expected to be outsourced considering that the tech firm doesn’t have the machinery to build volume cars on its own. No automaker has been linked to this project, which could mean Apple has a lot of choices on where and how it plans to build the car.
On that note, the whole project is still far from a slam dunk. At any point in time, it could be delayed or scrapped altogether. It’s unlikely it will end up that way considering how much time and resources Apple has invested to move the project forward. But the auto industry can be unforgiving, especially to companies that aren’t entrenched in the business. Munster said that he’s “relatively optimistic” that the EV has a chance of ending up in production, but a lot of that optimism depends on whether Apple is as resolved to making Project Titan work as a lot of us have been led to believe.
Continue after the jump to read the full story.
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