OPEN APP
Home >Technology >News >Apple Car launch could get delayed to 2028: Report

A car built by Apple has captured the imagination of many as a report last week suggested that the company is targeting 2024 to introduce its first product in the market with Apple’s own battery technology. However, a credible analyst has come forward to claim that the timeline for the first Apple product might get stretched much further than 2024.

Popular Apple analyst, Ming-Chi Kuo, in a letter to investors spotted by Apple Insider, has claimed that they should not buy into the new report that suggests the car will launch by 2024. He pointed out some important aspects of production that still seem to be in the nascent stages.

The TF Securities analyst has asked investors not to buy into the hype created by last week's report which has led to highevalue of “concept stocks" which are supposedly linked to Apple’s new car. He claimed that the buying of shared in related companies is a “knee-jerk reaction" and that it could be “short-lived".

He also provided three major reasons why investors shouldn’t believe the hype. He claimed that the uncertain “launch schedule", Apple’s current competitiveness in the EV/self driving market and the lack of information about the product and the suppliers are aspects investors should be aware of.

TF securities latest survey suggests that even if Apple starts the development process of the car by 2020 and everything goes as planned, the product might only see the light of day around 2025-2027. Kuo goes on to claim that Apple’s own high-quality standards could push the launch date to even 2028.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout