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Apple CEO Tim Cook If Apple is going to make a success of its car project, it has to target the US$230-billion luxury automobile market. Doing so may be the only way to keep investors happy. But displacing 125-year-old incumbents like Mercedes-Benz won’t be straightforward. The iPhone maker has reignited efforts to build its own vehicle, though it’s at least five years away from production. Since the project started in 2014, Apple has undergone numerous false starts, laying off hundreds of staff in both 2016 and 2019, as costs ballooned and the focus shifted from electric vehicles to self-driving technology and back again. If CEO Tim Cook proceeds, he faces tough choices on how to enter a market with famously meagre profitability. ....
Here's how Apple can tackle the US$230B luxury car market bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.