WSJ: Apple car project is for real, and it's a minivan • 6:17 PM
Jason Aycock, SA News Editor
- Some more color on reports that Apple (NASDAQ:AAPL) has been hiring auto engineers, including from Tesla (NASDAQ:TSLA): The company has several hundred employees working on project "Titan," toward an Apple-brand electric car that one source says resembles a minivan, The Wall Street Journal reports.
- It might not end up as a released car, the report notes -- lots of work along the way could be used to boost other Apple products -- but the size of the team is telling.
- VP Steve Zadesky was reportedly given permission to create a 1,000-person team for the project and to work off-site from Apple HQ.
- Building cars is expensive, requiring billion-dollar plants, but Apple's $178B in cash means the barrier to entry is far smaller than for others.
- A self-driving car (a la Google (NASDAQ:GOOG)) is not in Apple's plans, a source says.
- After hours, TSLA -0.9%.
- Previously: Talent showdown between Tesla Motors and Apple (Feb. 10 2015)
- http://www.thestreet.com/story/13047402/1/apple-minivan-it-could-be-a-disruptive-force-challenging-tesla.html
- http://www.nydailynews.com/news/national/apple-produce-electric-cars-2020-report-article-1.2122916
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