Apple developing an electric car - Report

Rumor has it that it resembles a "minivan".

According to Wall Street Journal, Apple is stepping out of its core competency by working on an electric car, codenamed "Project Titan". The report claims that it appears to be a "minivan" in its current form, and that the project was signed off by CEO Tim Cook nearly a year ago.

However, there is neither confirmation from Apple nor WSJ on the Apple "iCar" (or whatever it will be called). The report points out that it would take several years before it makes it to production, assuming that the company believes that an Apple car should exist.

Project Titan could also be a platform for Apple to work on new car technologies - like a new iteration of the CarPlay or further improving their Siri (virtual assistant) integration.

Leading the project is ex-Ford engineer and current Apple executive Steve Zadesky, who manages a team of 1,000 staff members from across different departments in the company. The report also speculates that the company has contracted with several OEM companies for components, one of them being Magna Steyr, a manufacturing company that used to build cars for Mercedes and BMW.

Also Read: Production version of Google’s autonomous car revealed

It's unknown why one of the world's largest producers of handheld gadgets and computers are looking to enter a new segment altogether, although they aren't the first tech company to make such a jump. For years, rival company Google is working on an autonomous vehicle, which was recently unveiled in production spec. Since it's reportedly electric powered, Apple could be eyeing the acquisition of Tesla, a growing manufacturer of EVs, the media has speculated and opined.

[Source: Wall Street Journal]