In a recent research note, the trusted analyst of Apple, Ming-Chi Kuo, writes that the technology giant may postpone the launch of its electric car until 2028 or later. Kuo has been called the ‘most accurate Apple analyst in the world’ and may have more insight into the Apple Car project.
As per MacRumors, Kuo of TF Securities noted that it’s way too early to get excited about the Apple Car. He estimated that Apple’s electric vehicle could start early in 2025 to 2027, just in case everything goes well. Otherwise, a launch of 2028 or later could be more feasible.
‘We predicted in a previous report that Apple will launch Apple Car in 2023-2025 […] However, our latest survey indicates that the current development schedule of Apple Car is not clear, and if the development starts this year and everything goes well, it will be launched early in 2025-2027. “Due to changes in the EV / self-driving market and Apple’s high quality standards, we will not be surprised if Apple Car’s launch schedule is postponed until 2028 or later,” Kuo wrote.
He noted that Apple has competitive advantages, but previously struggled to start new businesses. Kuo cited examples of Apple products that have not been successful so far, such as the HomePod and HomePod mini. He also explained that the company has caught up a lot when it comes to autonomous management data.
‘The market has high expectations for Apple Car. Yet we remind investors that while Apple has a range of competitive advantages, it is not always successful in new business. Apple, for example, did not enter the market for smart speakers. Demand for HomePod and HomePod mini was lower than expected, and the development of new speaker models was temporarily suspended. “The competition in the market for motor vehicles / self-driving is fiercer than that for smart speakers, so we think it is dangerous to come to the conclusion that Apple Car will succeed,” he wrote.
‘If Apple Car wants to succeed in the future, the key factor is big data / AI, not hardware. One of our biggest concerns about Apple Car is that when Apple Car is launched, the current self-driving car brands will build big data for at least five years and will be conducive to deep learning / AI. How can Apple, a latecomer, overcome this backlog? ‘
The Apple analyst believes the market is too exaggerated about Apple Car’s schedule and has advised investors to buy shares related to the electric passenger car project. Kuo is considered a trusted analyst by Apple due to its close ties with the technology giant’s supply chain. So far, he has the 11-inch MacBook Air, the iPhone 6S ‘3D Touch feature, the size of the iPhone X, the screen and the glass back and the variants of the iPhone 12 and iPhone 12 Pro series, among others accurate predict.
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