![](https://investorshub.advfn.com/uicon/182259.png?cb=1535531343)
Thursday, September 28, 2023 6:13:10 AM
3:40 am ET September 28, 2023 (Benzinga) Print
If you have been waiting for the Apple Car, you may want to rethink your options. Apple analyst Ming-Chi Kuo has now said that he has "lost all visibility" on the Apple Car project.
What Happened: Apple Inc. (NASDAQ:AAPL) could be losing the plot for its car project – while the Apple Car saga has extended to a decade now, analyst Kuo has cast aspersions on the idea itself.
See Also: Found A Great Deal On A Looted iPhone? Don’t Buy It, It Won’t Work
According to Kuo, fans who have been waiting for Apple Car news are in for a disappointment. He says he has "lost all visibility" on the project, which sounds quite serious for the world's most valuable company by market capitalization.
"If Apple doesn’t adopt an acquisition strategy to enter the automotive market, I doubt that the Apple Car can go into mass production within the next years," Kuo remarked, underlining that Apple has likely run into some serious problems with its autonomous electric car dreams.
The development of the Apple Car seems to have lost all visibility at the moment. If Apple doesn't adopt an acquisition strategy to enter the automotive market, I doubt that the Apple Car can go into mass production within the next years.
—
Apple…
— ??? (Ming-Chi Kuo) (@mingchikuo) September 27, 2023
Initially referred to as ‘Project Titan', the Apple Car project was launched in 2014 with the goal of creating a self-driving electric car.
Autonomous Car Dreams: Elon Musk's Tesla Inc. (NASDAQ:TSLA) has also been working on bringing similar capabilities to its electric cars, but it has not yet achieved the highly anticipated full self-driving abilities yet.
This is not the first instance of Kuo expressing doubts about the Apple Car project. Back in March this year, Kuo said the team working on Apple Car has been dissolved.
"The Apple Car project team has been dissolved for some time," he said, adding that a reorganization is required if Apple wants to achieve its mass production goal by 2025.
The Apple Car project team has been dissolved for some time. The reorganization within the next three to six months is necessary to achieve the goal of mass production by 2025.
— ??? (Ming-Chi Kuo) (@mingchikuo) March 15, 2022
Now, over six months later, with Kuo saying that there is no visibility whatsoever, it looks like Apple has not regrouped its development team yet.
It remains to be seen if this is a temporary setback or if the Apple Car dreams have been shelved for good.
Recent TSLA News
- Nike Stock Drops 14% in Pre-Market; Nokia Acquires Infinera for $2.3 Billion, and More News • IH Market News • 06/28/2024 10:50:25 AM
- Interactive Brokers Loses $48 Million on NYSE, Amazon Achieves Historic Market Value, and More News • IH Market News • 06/27/2024 11:13:41 AM
- Doordash and Deliveroo Terminate Talks; Universal Announces UK Theme Park Plan, and More News • IH Market News • 06/26/2024 11:08:35 AM
- SolarEdge Stock Falls 13%, Wegovy Approved in China, Grail Nasdaq Debut, Apple Rejects Meta Chatbot • IH Market News • 06/25/2024 10:36:11 AM
- UPS Divests Coyote Logistics in $1.025 Billion Deal with RXO, Under Armour Agrees to $434 million Settlement, and More News • IH Market News • 06/24/2024 11:00:20 AM
- Trump Media Resells Stocks and Warrants; KB Home Exceeds Q2 Expectations, and More News • IH Market News • 06/20/2024 10:55:11 AM
- Fisker Files for Bankruptcy, Chegg Stocks Rise on 23% Workforce Reduction, and More • IH Market News • 06/18/2024 11:02:13 AM
- Goldman Sachs Raises S&P 500 Forecast for 2024; Disney Secures Deadpool & Wolverine in Chinese Cinemas, and More • IH Market News • 06/17/2024 10:49:12 AM
- Adobe Soars 15% Pre-Market; Visa and Mastercard Encounter Hurdles in $30 Billion Agreement, and More • IH Market News • 06/14/2024 11:21:47 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/14/2024 10:02:55 AM
- Tesla Releases Results of 2024 Annual Meeting of Stockholders • Business Wire • 06/14/2024 03:10:00 AM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 06/13/2024 09:24:14 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 06/13/2024 08:22:12 PM
- Tesla Surges 5% in Pre-Market; Virgin Galactic Drops 9% Following Reverse Stock Split, and More News • IH Market News • 06/13/2024 11:24:25 AM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 06/13/2024 10:02:30 AM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 06/12/2024 08:50:43 PM
- Paramount Ends Skydance Talks, Oracle Shares Surge 8.7% on New Partnerships, and More News • IH Market News • 06/12/2024 11:19:10 AM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 06/11/2024 09:16:59 PM
- Form PX14A6G - Notice of exempt solicitation submitted by non-management • Edgar (US Regulatory) • 06/11/2024 08:47:02 PM
- FDA Panel Supports Eli Lilly’s Donanemab, Rio Tinto Expands Stake in Boyne Smelters, and More News • IH Market News • 06/11/2024 11:11:40 AM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 06/10/2024 09:00:37 PM
- Apple Showcases AI at WWDC 2024, Nvidia Stock Split Starts Today, and More News • IH Market News • 06/10/2024 11:29:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 10:46:36 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 06/07/2024 09:23:23 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 06/06/2024 09:23:35 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM