Apple rose 3% yesterday on Wall Street, nearing its highest threshold .
This comes after the company went ahead in developing self-driving cars and its attempt to start producing cars that include the most advanced technology in batteries in 2024.
It is worth mentioning that Apple stock tops the shares of giant technology companies this year, after it recorded gains of about 85%.
Reuters Agency revealed earlier that Apple is moving forward in self-driving car technology through Project Titan, and it targets 2024 to produce its electric cars that can include its own battery technology.
Apple began its efforts in 2014 by designing its own car from scratch, but at some point it reneged on efforts to focus on programs and re-evaluate its targets.
Doug Field returned to oversee the project in 2018 and 190 people were injured from the team in 2019.
Since then, Apple has made enough progress to the point that it is now building a consumer car.
Apple’s goal of building its personal electric vehicles contrasts with competitors, such as Waymo.
Central to Apple’s strategy is the design of a new battery that can dramatically reduce the cost of batteries and increase driving range.
Making a vehicle is a challenge to the supply chain even for Apple, which makes hundreds of millions of electronic products every year in parts of the world, but has never made a car.
Tesla Electric Car Company took 17 years before achieving sustainable profits for cars.
It is not clear which company will collect the Apple branded car, and the sources said: “They expect the company to rely on a manufacturing partner for vehicle construction.
Apple may at any time decide to scale back its efforts to an autonomous driving system that integrates with a vehicle made by traditional car manufacturers, rather than selling a car that carries its brand.
Apple has decided to take advantage of external partners for system elements, such as LIDAR sensors, which help self-driving cars gain 3D visibility of the road.
Apple may have several LIDAR sensors to scan different distances, and some sensors can be derived from the internally developed LIDAR modules located within iPhone 12 Pro and iPad Pro this year.
For the car battery, Apple plans to use a unique, single-cell design that increases the size of individual cells on the battery and saves interior space by eliminating units containing battery materials.
This design means that the most active materials can be filled inside the battery, giving its electric vehicles a longer range.
The company examines the LFP battery, or lithium-iron phosphate, which is less susceptible to overheating, making it safer than other types of lithium-ion batteries.