Consumer electronics and software giant, Apple, is reportedly planning to start producing electric vehicles (EVs), to directly compete with major EV firms like Tesla and BYD. Apple is targeting 2028 as the year for the release of its first EV.
Why would a corporate giant, known for computers and softwares, now decide to start producing cars? Looking for new revenue streams? Pivoting to a totally new business model? Your guess is as good as ours.