Apple’s Electric Car With Full Self-Driving Capabilities Is Set to Debut in 2025

Bloomberg News reported on Thursday that Apple is pushing to launch its electric car as early as 2025 and refocusing the project on full self-driving capabilities, citing people familiar with the matter.

Following the report, the iPhone maker’s stock rose nearly 3% to a new high.

According to the report, Apple’s ideal car would lack a steering wheel and pedals, with interiors designed for hands-free driving.

Since 2014, when it first began to design a vehicle from scratch, the company’s automotive efforts, known as Project Titan, have progressed unevenly.

Electric vehicle demand has increased as countries and customers become more environmentally conscious, propelling the market value of companies such as Tesla and Rivian far above traditional carmakers that have been around for decades.

“It’s a matter of when, not if,” Wedbush analyst Dan Ives said, adding that Apple’s chances of releasing its own standalone car by 2025 are 60 to 65 percent.

According to Bloomberg, even with recent progress, such as the car’s underlying self-driving system, processor chips, and advanced sensors, some people working on the project were skeptical about the timeline.

Apple did not respond to the report.

According to Reuters, Apple is planning to launch a passenger vehicle in 2024 that will use its own breakthrough battery technology.

Meanwhile, The Information reported, citing a memo, that Apple was preparing to return employees to offices beginning February 1 and will allow employees to work remotely for up to four weeks each year.