With the latest best financial report of any publicly traded company in history, Apple Inc. now is purportedly studying the techniques to make its very own self driving electric car.

According to a report from Reuters, the Cupertino, California tech giant is working hard at learning how to make such a vehicle for production, without much help from major car manufacturers.

Since the death of the late Steve Jobs, many industry analysts have speculated that Apple wouldn’t be as creative, under now CEO Tim Cook. Under his guidance, the company has made bold new moves in areas that Jobs wouldn’t have ventured into, such as a large screen iPhone, and a phablet device seeing tremendous success.

While details on the new project are scarce, the ambitious new idea sees the company make a shift from its current business model of selling electronic devices to car manufacturing.

According to the report, the project code name is dubbed “Titan” with an estimated several hundred employees working to bring this exciting new idea into a reality.

More car manufacturers are looking at ways to bring self driving cars to the market along with some using semi trucks autonomously as a way to cut down on traffic accidents which will make for safer roadways.

Self driving cars, are a complex bit of engineering that requires a lot of research and development. Apple is a company that also specializes in software, and has an advantage by utilizing its own proprietary applications to carry out its autonomous goals.

2013 Tesla Model S Interior

 

To better compete against Tesla Motors, rumors have suggested that Apple has been hiring car experts for the project. The company has already made an entrance in the automotive field with its CarPlay services, which is available on just a few road cars via dashboard console.

Nothing has been confirmed from Apple, and many think that this is just nothing more than a rumor. An autonomous vehicle would take the company years to complete, and as with most of Apple’s premium products, the price of admission won’t be cheap which are all major factors for healthy profit margins.

It’s a lot easier to spend money on a smartphone with short life cycles versus a car which people expect to last many years with low maintenance. Owning a car and a house are one of the most expensive items a person can get into, and if this rumor is to be true, it will be interesting to see how Apple’s strategy plays out.

Still, reports continue to swirl about how the tech giant is steadily recruiting auto industry experts and it’s up to Apple to confirm or deny these claims.

 

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