Source: Chevrolet
What you need to know
- Apple will invest $19 billion in research and development this year, according to Morgan Stanley.
- Analyst Katy Huberty believes the company will control the entire car experience for its Apple Car.
- The company will build a "vertically integrated solution".
The 'Apple Car' is one of the longest rumored Apple products, and Morgan Stanley analyst Katy Huberty believes that the company plans to develop a "vertically integrated solution" for the car, acccodring to an investor note acquired by AppleInsider. The analyst believes Apple will want to disrupt the automotive industry much as it has with the healthcare and financial services industries.
"Huberty adds that Apple sees vehicular tech as a "large market where (it) can contribute to a better solution," similar to how it views health and financial technologies. When it comes to the end goal, the analyst forecasts that Apple's entry into vehicular tech will be a vertically integrated solution."
Huberty believes the company will put as much as $19 billion dollars into Research & Development this year alone, AppleInsider says. In comparison, the rest of the entire automotive industry will spend a grand total of up to $100 billion.
"Huberty said that Morgan Stanley expects Apple to spend nearly $19 billion on Research & Development this year, and compared that number to the $80 to $100 billion spent on R&D across the entire auto industry. That massive influx into R&D is one reason why Apple and other tech companies are probably going to be "disruptive over time" in the car market."
Huberty believes that Apple's end goal is to control the entire car experience and that a more advanced version of CarPlay will not satisfy the company's ambition on the project.
"The end game can't just be a more advanced version of CarPlay in partnership with other automakers ... They need to control the design, the guts, and the experiences and services on top of the platform."
There is still no idea when Apple will announce the project officially, or when the car could actually see a release date. The car, codenamed "Project Titan", has been in development for years.
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