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Tapping the brakes on the iCar
Image Credit: Richard Scarry

Tapping the brakes on the iCar

Apple bringing its reputation for premium products into the automotive arena would be a marvel to behold, making even the likes of Tesla break a sweat.

by Emmanuel Oyedeji Loy Okezie

Imagine the iconic Apple logo gracing the hood of your car. It's the stuff dreams are made of, right? Well, it seems like that's where it'll stay — in the realm of dreams.

It is a prospect that will only remain an imagination after the company Apple announced it is tapping the breaks on its decade-long multibillion-dollar plan to enter the self-driving EV industry with its "iCar."

Arguably the most known tech brand boasting over a 2 billion user base across its products, Apple bringing its reputation for premium products into the automotive arena would be a marvel to behold, making even the likes of Tesla break a sweat.

But, it seems that the automotive endeavour was just too much for Apple to handle. My thought is that the automotive industry was too resource-intensive for Apple compared to other products. There is already a low-hanging fruit in the form of artificial intelligence and companies like Nvidia are raking in the dough. Perhaps Apple saw a quicker path to riches by focusing on AI, leaving the car industry for now. Talk about a "low effort plenty reward" venture.

And let's not forget the complex supply chains, market uncertainty, and established players already in the automotive industry making it a high-barrier-to-entry industry, potentially deterring deep-pocket companies such as Apple. Besides, Apple has an existing CarPlay system, which integrates into various car models, already giving them a significant foothold in the automotive space.

Whatever the case, we won't be getting an "iCar" anytime soon, but would you fancy owning one if it ever becomes a reality?

Emmanuel

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by Emmanuel Oyedeji Loy Okezie

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