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Technology Stocks : Apple Inc.

AAPL 278.28

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Dec 12 9:30 AM EST

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From: bentway	2/20/2015 11:01:47 AM
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Apple Wants to Start Producing Cars as Soon as 2020 bloomberg.com (Bloomberg) -- Apple Inc., which has been working secretly on a car, is pushing its team to begin production of an electric vehicle as early as 2020, people with knowledge of the matter said. The timeframe -- automakers typically spend five to seven years developing a car -- underscores the project’s aggressive goals and could set the stage for a battle for customers with Tesla Motors Inc. and General Motors Co., both of which are targeting a 2017 release of an electric vehicle that can go more than 200 miles on a single charge and cost less than $40,000. “That’s the inflection point -- the proving ground -- that brings on the electric age,” Steve LeVine, author of “The Powerhouse,” a book about the automotive battery industry, said on Bloomberg TV Thursday. “Now you have Apple coming in and this is critical mass. Was GM really going to be able to match Tesla? Apple can.”...

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