The iPhone maker's shares rose nearly 3 percent to hit a new
record following the report.
Apple's ideal car would have no steering wheel and pedals,
with interiors designed around hands-off driving, the report said.
The company's automotive efforts, known as Project Titan,
have proceeded unevenly since 2014 when it first started to design a vehicle
from scratch.
Demand for electric vehicles has surged as countries and
customers turn more environment conscious, propelling the market value of
companies such as Tesla and Rivian far above traditional carmakers around for
decades longer.
"It's a matter of when, not if," Wedbush analyst
Dan Ives said, adding that chances of Apple unveiling its own standalone car by
2025 as 60 percent to 65 percent.
The Bloomberg report said some people working on the project
were skeptical about the timeline even with recent progress, which includes the
car's underlying self-driving system, processor chips, and advanced sensors.
Apple declined to comment on the report.
Reuters had reported in December that Apple was targeting
2024 to produce a passenger vehicle that could include its own breakthrough
battery technology.
Meanwhile, The Information, citing a memo, reported that
Apple was preparing to bring back employees to offices starting February 1 and
will let staff work for up to four weeks remotely each year. © Reuters
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