http://nypost.com/2015/02/13/apple-kicking-the-tires-on-producing-an-icar/
Apple CEO Tim Cook, who is about to roll out the company’s first piece of wearable tech with a watch, may be looking to get a lot more mileage out of another new gadget: an iCar.
Apple has built up a roster of engineers, recruiters and designers who have previously worked at Tesla Motors and could even be in the process of building its own car, according to a report Friday.
The ramp-up, along with an increase in research and development spending, has revved up speculation that Apple could soon compete with Elon Musk’s Tesla — or even Google’s self-driving cars, according to the report in the Financial Times, which talked to analysts closely watching the company.
“If Apple’s building a car, we expect they would be doing something very different from traditional car manufacturers,” Brian Colello, an analyst at Morningstar, told the FT. “We don’t expect Apple to get involved unless they can truly change the game.”
There is also chatter that Apple, which has $178 billion in cash on its balance sheet, may be eyeing an investment in Tesla, which has a market cap of $25 billion.
“[Tesla’s] not profitable whatsoever, but that doesn’t mean [Apple] shouldn’t pursue them,” Andrew Zamfotis, an analyst at EVA Dimensions, told The Post. “Nothing’s going to be profitable on day one.”
Apple could also be developing longer-lasting batteries with the former Tesla engineers, Colello said.
iCar? Apple’s Titan Car Project to Challenge Tesla
Wall Street Journal
http://www.wsj.com/articles/apples-titan-car-project-to-challenge-tesla-1423868072
