A report this week revealed that Apple has accelerated the work on the Apple Car, with people familiar with the matter suggesting the vehicle is now expected in 2024 or 2025.
Morgan Stanley analysts believe the Apple Car is the most powerful rival Tesla could get, explaining in a note to investors (obtained by 9to5mac) that the Cupertino-based tech giant is actually a “more formidable” competitor than traditional automakers.
“Apple possesses the key ingredients that we believe are critical to be successful in the future auto industry: Access to capital, an ability to attract and retain top talent, proven hardware design (from HMI to battery), and a rich ecosystem to leverage recurring subscription/service revenue. We believe the value of the services opportunity (MAU x ARPU) embedded in Internet-of-Cars (IoC) could potentially dwarf the auto business itself (units x price),” the analysts said… (read more)
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