The New Car Industry
The future of the car industry is driving into Silicon Valley.
Following in the brake pads of Tesla and Google, Apple is rumored to start developing an electric car. According to various reports the company has developed a unit called Titan. Hundreds of staff members have reportedly been assigned to the unit and the target date for the car is 2020.
Of course Apple is not commenting but the plan puts the company in line with Tesla, the current king of the electric car and Google's self-driving car. Before the tech industry got behind the wheel the U.S. auto industry was rooted in Detroit. And the top three automakers; General Motors, Ford and Chrysler are taking the outside threat seriously.
GM says it is not surprised Apple is jumping in the ring considering their recent success. Ford has gone as far as to open a research center in Palo Alto to investigate self-driving vehicles. Experts say it takes an average of seven years to mass market a car so while Detroit is not facing serious pressure the engine is warming up.