Traditional premium automakers have the most to fear from a potential launch of a car by Apple, analysts at Bernstein believe, citing its ability to leverage its brand power to potentially sell 1.5. million units annually in that sector by 2030.
Apple has never officially revealed it is working on a car, but the company reportedly started the project in 2014 and has been refining it ever since.
More recently Apple has been looking for manufacturing partners. Hyundai and Nissan were candidates, according to reports, but no agreement has been reached.
Apple's ability to equip cars with a software ecosystem used by millions of its iPhone owners is perhaps its greatest asset, said Bernstein's Arndt Ellinghorst in a Q&A discussion hosted by the research company. "That's why I think it's one of the biggest scares for traditional automakers out there," he said, citing premium brands specifically. "They would be much more scared by an Apple than by a Rivian or a Lucid or a Fisker or even by a Nio."