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Apple might shake up the electric vehicles market in the same way the iPhone revolutionised the mobile communications industry, says Morgan Stanley.
Apple is pushing to accelerate development of its electric car and is refocusing the project around full self-driving capabilities. By Mark Gurman.
Apple, whose CarPlay interface is used by millions of motorists to control music, get directions and make phone calls, is looking to expand its reach within cars.
The abrupt departure of Apple’s top automotive executive imperils its efforts to develop a self-driving car, a project that’s been seen as one of the tech giant’s biggest bets.
The global chip shortage is going from bad to worse with car makers on three continents joining tech giants Apple and Samsung Electronics in flagging production cuts and lost revenue from the crisis.
A US car industry group on Monday urged the government to help as it warned the global semiconductor shortage could result in 1.28 million fewer vehicles built this year.
BMW has a message for Apple: Bring it on! Chief financial officer Nicolas Peter said he is undaunted by reports that the world’s most valuable company could enter the car business.
Ford will plough over $1-billion into a plant in South Africa – its biggest-ever investment in the country – as the car maker scales back in other regions including Brazil and Europe.
Tesla on Tuesday announced a five-for-one stock split, sending the electric car maker’s recently high-flying shares up 7% in extended trade.