Apple to Join Tesla in the Electrical Vehicle Sector

Recently Apple threw its hat into the ring when it announced its intention to move forward with developing self-driving car technology. It should be noted that when a company with the market cap of Apple and a great deal of money decides to move into the auto industry it can buy all or most of a struggling automaker. This would give them an instant production capacity. This means Apple can rapidly jump into the EV market.
According to Reuters, Apple is targeting 2024 to produce a passenger vehicle. Make no mistake, this has the potential to derail Elon Musk's plan for Tesla to put out a million robotaxis. This places Apple in the position of competing with others with major self-driving projects, including Tesla and Google/Alphabet's Waymo project which stands for a new way forward in mobility. Google started working on a self-driving car several years ago but so far has little to show for its effort.

Apple seems very interested in pushing its way into this sector of the economy. Adding to the validity that Apple is serious about moving in this direction, Reuters also reported Apple's cars might include sensors and a new "monocell designed battery" that has been developed internally at Apple. Such a battery could be a much-needed breakthrough in battery technology. The lack of better batteries is one of the biggest problems currently facing the EV industry.

All EV manufactures are seeking new battery designs that could "radically" reduce battery cost and increase a vehicle's range. A better battery has been seen as the Holy Grail of the EV industry. While some people point out Tesla has been moving to improve its batteries the same could be said about all these companies. More efficient motors in these vehicles are also important. The Toyota Prius also uses IPMSynRm Motors such as used in the Tesla Model 3.