Why Apple is already positioned to become a global carmaker
The tech giant, meanwhile, is said to be working on a secretive electric car project
Add BT as a preferred sourceNew York
APPLE Inc may already be positioned to evolve into a global carmaker in many ways that other Silicon Valley companies aren't. The Cupertino, California-based tech company has put a few hundred employees to work on a secretive project to develop an electric car, a person familiar with the matter has said. While Apple often tests ideas that don't get released, the work underscores the company's long-held desire to play a greater role in the car space, which is ripe for more of a merging with users' digital lives.
"It makes a ton of sense," Gene Munster, an analyst with Piper Jaffray Cos, said on Saturday in an interview. "If you would've said 10 years ago, 'Apple is going to be in the car business', I think people would've said you're crazy - because it would've been crazy - and today it's a much different company that's able to tackle these massive addressable markets."
Share with us your feedback on BT's products and services
