A bite out of the EV Apple pie!
Electric vehicles are expected to headline the decade in the tech world and Apple Inc. intends to participate. Apple and Hyundai Motors have reportedly agreed on a collaboration to manufacture and develop autonomous cars as early as March, 2021.
As a leader in consumer electronics, Apple’s venture into EV is important owing to the size of the $2.55trn-large total addressable market. The company’s ambitions involve creating its own intellectual property, build premium product lines, and an opportunity to monetise its allied services from autonomous vehicles.
Automobiles is a capital-intensive industry and Apple has no experience which might explain the collaboration with Hyundai. It might also have to worry about lower gross margins. Apart from Big Tech, EV is harbouring a startup interest as well.
Click on the link below to read more.
https://transfin.in/all-you-need-to-know-about-apples-new-electric-car
