From Gurman’s “Apple Accelerates Work on Car Project, Aiming for Fully Autonomous Vehicle” posted on Bloomberg at 12:26 p.m. Eastern:
Apple is pushing to accelerate development of its electric car and is refocusing the project around full self-driving capabilities, according to people familiar with the matter, aiming to solve a technical challenge that has bedeviled the auto industry.
For the past several years, Apple’s car team had explored two simultaneous paths: creating a model with limited self-driving capabilities focused on steering and acceleration — similar to many current cars — or a version with full self-driving ability that doesn’t require human intervention.
Under the effort’s new leader — Apple Watch software executive Kevin Lynch — engineers are now concentrating on the second option. Lynch is pushing for a car with a full self-driving system in the first version, said the people, who asked not to be identified because the deliberations are private.
Apple shares gained as much as 2.4% to $157.23 after Bloomberg reported the news.
My take: Seem likes a long-term project for such a short-term gain.