Published on : Feb 25, 2015
In an industry which is sometimes dictated by fancy or fad, the big tech giant’s announcement to quicken an electric car’s production in a few years is called the Project Titan. This has led to a widespread consumer excitement around the country. Though, auto companies generally take seven years in developing a car, Apple is planning to start shipping these cars in less than five years, which means as early as 2020.
This announcement was made during a time when the car capital in Detroit had a pretty good year in 2014. This region sold around 16.5 million units, which was from one million figure of the year before that. The stock from GM and Ford also has ramped up on their news. These companies have jumped around 5.7 and by 5.8 percent in the current year.
Consumers were motivated by not only the low interest rate loans offered by the banks, but also by the slick innovative high tech technology provided by cars today. Almost every new car model launched today offers features such as touch screen and connectivity using Wi-Fi hotspots to the hybrid technology and also to back up cameras.
The automotive industry is currently focused on the Apple’s automotive project, which is headquartered at the firm’s offices in Cupertino located in California.
Presently, Elon Musk’s Tesla is the leading electric car maker. The firm’s vehicles range from 70 thousand dollars to 100 thousand dollars. Also, Google is simultaneously working on driverless cars which look like Geoorge-Jetson’s cars. However, neither of these projects is cornering the market on mass affordable electric car.