Apple is planning to execute its dream electric car project ‘Titan’ and handed over the task to Apple’s executive Bob Mansfield. Reportedly, Mansfield, a veteran engineer and a renowned technocrat, who has helmed various Apple projects has been asked to complete the automobile project, ‘Titan’ it is learnt.
However, the company is yet to publicly announce the plan of Apple Titan Car project.
Bob Mansfield has continued to be part of the company even after relinquishing his position in 2013, from the company’s executive board.
However, he still calls the shots in major decisions of the company, says media, quoting Apple officials. Apple Watch was one of the Apple project he been part of recently.
Forbes said, Apple Car project named ”Titan” has an estimated $50 billion opportunities in US alone. More than 100 Apple staff are exclusively working in the project in a secret lab say media reports. However, Titan electric car will take years to become a reality. Apple CEO Tim Cook has given the go ahead for the Electric Car Project, reported Forbes last year.
Quoting an automobile expert, it added that U.S. car market alone will give the company chances to net business worth about $50 billion.
It added that last year alone 16.4 million new units were sold in the US. It was estimated that the average price of a new car on road is around $31,000 last year. So it is giving the company a huge business opportunity in the US automobile market that is estimated to be over $500 billion. Apple can easily tap into this market and can get a business of $50 billion easily, point out analysts.
The prototypes of the design is likely to be in the form of minivans, added media reports. Apple has a major share in car software’s. It launched CarPlay, which will provide iOS device facility in automobiles last year itself. Many automobile companies are planning to install the same software in their brands, following Apple’s invention.