While the Silicon Valley technology industry only recently started having an interest into joining the ranks of the sister automotive industry, Apple might already have been better positioned than other tech companies to evolve into a full fledged carmaker.
Over the weekend all media outlets exploded after reports that the Cupertino-based giant – valued today at $700 billion – has already started a secretive lab project with a few hundred employees with the final goal of producing an electric car. Apple usually fiddles with numerous projects that become history soon thereafter, but the rumors coming from sources within the company or from the auto industry have enough weight – Apple always toyed with the idea of implicating more in the automotive space – especially since in recent years the sector has grown very fond of the digital life promoted by technology giants and numerous startups.
Here are some of the company’s strengths when considering the massive task of entering the automotive business. For starters, it has a cash hoard of almost $180 billion. Cars could be the ultimate “mobile” device – and Apple has proved it can design and integrate software in manners that others only dream of. It also has numerous executives with prior automotive expertise – such as Luca Maestri, the CFO, which spent two decades at General Motors. Apple is already a global name and has a worldwide retail network – they just need it upgraded to also make room for an electric car.
Via Automotive News Europe