Tuesday, June 18, 2024

Apple Car will possibly lack a Steering Wheel: Analysts

Morgan Stanley automotive analysts said that the completely autonomous “Apple Car”, which would possibly lack a steering wheel, may be a big competitor to Tesla and other electric vehicle manufacturers.

Morgan Stanley Auto & Shared Mobility analyst, Adam Jones shared some thoughts on the effects of Apple’s entrance into the car market in a note to investors.

Jones, for one, notices how big the $3.6 billion investment announced by Apple is. That is “a lot of money to invest into one car factory,” and Jones adds that only Apple’s portion of the investment appears to be seen.

Users who expect a typical experience in the automotive sector may want to think again. “Don’t expect steering wheels,” said Jones.

The Apple Car is a huge competitor to Tesla, the analyst said. “At some point, today’s EV players must share the sandbox,” Jones added.

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