Sources: Apple and Hyundai-Kia close to a car manufacturing deal; first “Apple Cars” will be “designed to operate without a driver and focused on the last mile”
- Apple is close to finalizing a deal with Hyundai-Kia to manufacture an Apple-branded autonomous electric vehicle …
CNBC
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Discussion
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@mattrosoff
Matt Rosoff
on x
Why would Apple build a car? Here's @kifleswing from December on that question: https://www.cnbc.com/...
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@zcichy
Zac Cichy
on x
@GarrettZumini Apple enters spaces where no one else can or will do what they're willing to. Sometimes that works. If they can make this one work, it has the potential to change everything. But it won't be overnight. And they might see this as a “lead by example” situation. Not w…
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@patrickmcgee_
Patrick McGee
on x
I say apparently b/c there's nothing really new here and the quotes from sources are meaningless eg: ""Chung has made it clear, mobility is the future of the company." That's important because the Apple Car will be fully autonomous." Find me an OEM that *doesn't* say that. 2/2
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@philipberne
Phil Berne
on x
The Apple/Kia deal says $49,900 to me More than most people can afford, but Apple will come up with creative financing arrangements You'll pay the same as you would for a $35K lease but you'll be locked into the platform somehow
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@patrickmcgee_
Patrick McGee
on x
A few years ago carmakers were all scared of becoming mere suppliers to Big Tech - ‘Foxconns of the car industry’. Now that it's apparently* happening, everyone is excited and Hyundai/Kia shares have surged. 1/2 https://twitter.com/...
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@benbajarin
Ben Bajarin
on x
Some points from a financial note, I thought were apt, on Apple Car potential. https://twitter.com/...
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@neilcybart
Neil Cybart
on x
When Apple was contemplating Apple Watch in the early 2010s, Wall Street said Apple was making a mistake because the watch market wasn't large enough. Apple saw the wrist's potential. Five years after launch, Apple Watch outsold the entire Swiss watch industry by 2.4x in 2020.
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@zcichy
Zac Cichy
on x
@GarrettZumini Using their immense R&D to re-think transportation as we know it, but execute in steps that are incremental and realistic. They won't enter this space without anything less than a vision to re-think the car at the level they re-thought the phone. Just my take.
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@neilcybart
Neil Cybart
on x
@dennis888 They are well aware of the money currently being spent on cars and related fields. A very good argument can be made that Apple's entry into the space can lead to an even larger market, of which Apple will aim to get a non-small share (which is part of Apple's calculati…
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@benbajarin
Ben Bajarin
on x
Cause 2% of that market is larger than the iPhone business.. AND Apple likes markets where customer satisfaction is relatively low, and experience can be better, which is automotive. https://twitter.com/...
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@asymco
Horace Dediu
on x
@tedtodorov @counternotions @neilcybart Tesla early cars were hand-made. Apple is a volume producer. Early watches were perfectly accessible by any middle class family.
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@teroterotero
Tero Kuittinen
on x
@CNBCnow Apple is going to work so hard to erase any association with Kia from these cars. Like, you won't believe how much Apple will never mention these three letters consecutively.
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@neilcybart
Neil Cybart
on x
When Apple considers entering a new market, the current size of that market is irrelevant. Instead, Apple looks at how big that market may become given its entrance.
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@tedtodorov
Ted Todorov
on x
@asymco @counternotions @neilcybart The average US car price in 2019 was ~$39,000, so a $100K car would be 2.5X the average. I bet the original Apple Watch cost at least 2.5x the average watch in 2015. Also, Tesla's first car price was $200K. Still starting with a Ferrari seems v…
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@asymco
Horace Dediu
on x
Another view: The distribution of retirement ages for cars in the United States. Most common is 14 to 16 years. Significant number > 20. https://twitter.com/...
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@asymco
Horace Dediu
on x
@counternotions @neilcybart I have no evidence but the idea of spending a significant amount of R&D and capex to produce 100k units/yr of anything seems inconsistent with Apple's previous products and services. The question of Apple Car isn't if. It's how many.
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@sam_l_shead
Sam Shead
on x
Shares in Kia up 14.5% after a local media report said Apple is investing $3.6 billion to help the company make an Apple Car https://www.bloomberg.com/...
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@carnage4life
Dare Obasanjo
on x
Looking forward to needing dongles to pump gas at different gas stations and buying a new car when my battery dies. https://www.bloomberg.com/...