Tapping the brakes on the iCar
Apple bringing its reputation for premium products into the automotive arena would be a marvel to behold, making even the likes of Tesla break a sweat.
Imagine the iconic Apple logo gracing the hood of your car. It's the stuff dreams are made of, right? Well, it seems like that's where it'll stay — in the realm of dreams.
It is a prospect that will only remain an imagination after the company Apple announced it is tapping the breaks on its decade-long multibillion-dollar plan to enter the self-driving EV industry with its "iCar."
Arguably the most known tech brand boasting over a 2 billion user base across its products, Apple bringing its reputation for premium products into the automotive arena would be a marvel to behold, making even the likes of Tesla break a sweat.
But, it seems that the automotive endeavour was just too much for Apple to handle. My thought is that the automotive industry was too resource-intensive for Apple compared to other products. There is already a low-hanging fruit in the form of artificial intelligence and companies like Nvidia are raking in the dough. Perhaps Apple saw a quicker path to riches by focusing on AI, leaving the car industry for now. Talk about a "low effort plenty reward" venture.
And let's not forget the complex supply chains, market uncertainty, and established players already in the automotive industry making it a high-barrier-to-entry industry, potentially deterring deep-pocket companies such as Apple. Besides, Apple has an existing CarPlay system, which integrates into various car models, already giving them a significant foothold in the automotive space.
Whatever the case, we won't be getting an "iCar" anytime soon, but would you fancy owning one if it ever becomes a reality?
– Emmanuel
