According to Reuters, Volkswagen Group CEO Herbert Diess said he was not afraid of Apple Car, adding that Apple would not be able to overtake the $ 2 trillion auto industry overnight.
Apple has yet to comment on rumors about its first self-driving car, but Herbert Diess is confident the rumors are logical. Apple has expertise in battery technology, software and design, and can easily use all of its knowledge in those areas to build its electric vehicle, the CEO said.
Volkswagen is one of the largest car manufacturers in Europe and worldwide. Diess said he was not worried that Apple’s entry into the market would undermine Volkswagen’s dominance, saying that despite Apple’s expertise in all the technology needed to build a car, his company was not worried about it.
Historically, Apple has used third-party vendors like TSMC and Foxconn to build iPhones, Macs, and other products, but neither vendor is ready to build a car. Apple is expected to partner with established car manufacturers on this front, but it is not yet known exactly which one.
In early January, it became known that Apple was close to signing a deal with Hyundai. The automaker then confirmed it was in talks with the tech giant. Later it was officially announced that negotiations between Hyundai and Apple were suspended. This brought down the shares of Hyundai and Kia.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
