REPORT: Apple 'iCar' Could Be Ready to Drive by 2024

Apple wants to be the next Tesla.

In 2014, Apple started an electric car project, codenamed "Titan." By 2018, a reported 5,000 Apple employees were working on the project.

Now, a new report says Apple plans to start producing ‘iCars’ by 2024.

A Reuters report said Apple is “moving forward with self-driving car technology” and targeting 2024 to debut their own car. Apple plans to develop new battery technology that would reduce the cost of batteries and increase the vehicle’s range.

Part of that plan is said to be utilizing the chemistry for the battery of LFP, or lithium iron phosphate, which is inherently less likely to overheat and supposedly safer than other types of lithium-ion batteries.

”It’s next level,” said the source of Apple’s battery technology. “Like the first time you saw the iPhone.”

Will the iCar ever happen?

Maybe.

But what’s a certainty is that Apple stock rose nearly 3% after the announcement of their potential launch date was made.

Juicing the imagination definitely doesn’t hurt the stock price!

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