Apple Isn't Building A Car.. They Are Building An Electric/Autonomous Ride Service
Ride sharing apps like Uber and Lyft have changed the way we use taxis and passenger travel. Today Uber is a bussiness that is not profitable, Only when the human driver is eliminated will companies like uber be profitable. Ride sharing applications are about to change the world we live in when vehicles begin to go autonomous. What company could possibly afford to build and pay for the enormous amount of capital it would cost for a a nationwide fleet of autonomous cars? There is only one company sitting on a cash pile of over 250 Billion dollars and that is Apple (AAPL). Speculation of an Apple car has been discussed for years now and was one of Steve Jobs dreams to build. This however won't just be a car but an Ecosystem. Apple car won't be a product you buy at a store but a subscription model ride sharing service that will transform the world. An average uber ride may cost 20-25 dollars where an autonomous car will be able to do this for a dollar or two. Instead of paying several hundred dollars a month for a car payment and hundreds on insurance what if you could pay per month for Apple Ride Service. An exclusive ride sharing application to the Apple Car for iOS users with the majority of transactions using Apple Pay. Electric and Autonomous cars will reshape our nations economy and Apple is positioning themselves to capitalize from this shift substantially.