Xiaomi and Apple Threatens Tesla With 2024 EV Vaporware

Smartphone giant Xiaomi is hiring many positions for its electric vehicle unit and for its autonomous driving project.

Xiaomi is targeting its first car model to market within three years (around 2024).

BYD and Xiaomi are in discussions to form a strategic partnership.

“BYD will support the development of Xiaomi in the automotive business in the future,” he said. “Not only support, but BYD and Xiaomi are also negotiating some [other] projects in the automotive field.”

Xiaomi is starting its EV work with an initial investment of US$1.5 billion and expects to spend up to US$10 billion over the next decade.

Apple is close to signing a deal in which it would partner with Canadian manufacturer Magna International to build an EV powered by LG-supplied batteries and running on Apple software.

Apple is talking to BYD and CATL about batteries. Apple is rumored to be targeting 2024 for its first EV.

No Existing EV Player is Threatened by 2024 EV Vaporware

The history of EVs shows that Tim Cook could have cut a deal with Tesla. Tim Cook did not even meet when Elon Musk was willing to get funding in 2017.

Apple would have made 10X if a deal was made then and Apple would be the biggest EV player.

Apple’s Tim Cook completely screwed up that opportunity. Apple has been working to create an EV for nearly 20 years but has not created anything.

Now Tesla is far stronger. Nio and other EV makers are getting stronger.

People keep saying just wait Apple will do something with EVs and Apple will be a serious competitor with EVs and full self-driving.

So right now: Xiami has made an investment but has not revealed a prototype. Xiami is still putting together the partnerships to make the product.

By 2024, NIO should have finished its second factory and be on the way to ramping to 1 million cars per year.
By 2022, Tesla will be ramping the Berlin and Austin factories and continued Shanghai expansion. By 2024, Tesla could have built and ramped any new factory projects that Tesla announces in 2021-2023. Tesla will be spending $5 to 10 billion each year by 2023-2025 to build out factories.

Apple has $204 billion of cash on hand. Apple will not unleash all of those funds to attack the EV market. Apple still has to maintain and grow its smartphone and tablet businesses.

This is clearly an area where Apple is missing Steve Jobs. Steve Jobs died in 2011. Tim Cook kept Apple executing with smartphones after the death of Jobs. If Steve had been able to beat cancer and stayed healthy, then I think he would have bought into Tesla in 2017 and/or had a three year project that would have revealed an Apple EV in 2014.

Written by Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla)

17 thoughts on “Xiaomi and Apple Threatens Tesla With 2024 EV Vaporware”

  1. Not outlandish to believe Apple might contribute some kind of tech to some EV manufacturers. I don’t believe we’ll see many ‘new’ car manufacturers popping up. That takes too much.

  2. External dimensions aren't important for this though. Only the internal cargo storage and number of seats matters for someone seeing if a vehicle is "big enough".

    Indeed, large external dimensions are usually a negative. You want something that is small on the outside but roomy on the inside.

    Oh, some people want something that "looks big" because they like the imposing appearance. But the Aptera "look" is wildly distinctive. If you like it then that's going to over-ride the size.

    I love the approach personally, but I can't see it passing the crash safely regulations in any major market. Pedestrian safety especially. Maybe if you were able to register it as a motorbike?

  3. Windows 11 will just be more of the same with an even prettier and more child-like interface. Same horrid plumbing. I run Linux on my personal stuff now, and I have only one Windows box for work related stuff and gaming … gaming not available on Linux.

  4. I don't think the specs support your categorization:
    Overall Length: 172 in. That is over 14 feet.
    Overall Width: 88.0 in. That is wide. 10 inches wider than the T-Rex. Wider than any Tesla. Wider than a Ford F-250.
    Overall Height: 57 in. A little taller than the Model 3.
    25 cubic feet for cargo in the Aptera. Model 3 has 15 cubic feet for cargo. T-Rex has 3 cubic feet. The Model S has 28 cubic feet. T-Rex 0-60 is 3.9 sec. Aptera is 3.5 seconds. And T-Rex has gasoline motorcycle engine.
    Aptera is electric with up to 1,000 miles of range.
    And that T-Rex costs a lot more.
    That BMW Isetta 300 is just 90 inches long. The Aptera is nearly twice the length. And the BMW Isetta 300 is just 54 inches wide.
    I guess the reason it looks a little smaller in the photos than these specs, is that they are increasing the size: https://www.youtube.com/watch?v=sq5hjSnZ-8k

  5. The Aptera does seem like a pretty cool vehicle, and if it comes even close to living up to the claimed specs it could do very well. But, while it is cheaper in absolute terms than current EVs, like the Tesla Model 3, it's really a quite different class of vehicle that is not comparable. It's a small reverse trike that seats 2 people. It falls somewhere between a recreational vehicle, like a T-Rex, and a European tiny car, like a BMW Isetta 300. In terms of what you get I don't think even the entry price of 25,900 is any better than the price of an entry level Model 3.

  6. I think the most underestimated competitor is Aptera. They went extreme with aerodynamics, and light weight, and as a result they don't need anywhere near as many batteries reducing cost substantially, allowing faster recharging, and allowing solar on the car to actually be useful. And the performance is more than acceptable. 0-60 in 3.5 seconds.110 mph. Up to 1,000 mile range (not a misprint). It can charge 13 miles per hour on a regular 110v outlet.
    And production is nearly here. They are expected to make their first deliveries this year.
    The price will be super competitive also…starting at $25,900.

    If you want something that looks futuristic, it certainly fits the bill.

    Well, I just signed up as a referrer. So, if you want $30 of a preorder you can use this: http://i.refs.cc/CN1aTTj5?smile_ref=eyJzbWlsZV9zb3VyY2UiOiJzbWlsZV91aSIsInNtaWxlX21lZGl1bSI6IiIsInNtaWxlX2NhbXBhaWduIjoicmVmZXJyYWxfcHJvZ3JhbSIsInNtaWxlX2N1c3RvbWVyX2lkIjo4OTMyMTkwMDR9

    I'd sure like one of these cars. I don't want to upgrade my electricity for some fancy charger, as my garage is not attached, and that upgrade will cost plenty. I would have to dig up sidewalks too. Heck, I can't even do 220v in there. That, and my back driveway has a heavy fence that is not powered and the track is always getting overgrown. I don't drive very much, so solar charging should work great for me.

    I apologize Brian, if I am violating some comment rule. If you like I will delete this part.

  7. To be fair, allegedly Steve Jobs when he was dying prepared Apple by leaving Tim Cook with roughly a decade-worth of new product ideas, most of which have not yet surfaced for some reason or another. Some could obviously still be incubating, and within that, the iCar may be one of them.

    Xioami/Baidu/BYD is trying to follow the Google/Waymo pattern though, which with a closed market like China, they might be able to pull off…

  8. Are you trying to imply there won't be a Windows 11?

    I doubt 11 will be any better than 10, but 11 is coming, I can assure you.

  9. I am defiantly not convinced Apple would have had a car if Jobs had lived. They did not hop on the personal transport/personal transport rental thing, which would have been a much smaller leap. Segway was anticipated to be the future. And there were certainly many other possible devises related but avoiding patent infringement. Or Apple could have just acquired Segway.
    Then there are drones. The drone business was certainly in full swing before Jobs' death. Where is the Apple drone? They announced one in 2015, but I don't think Apple ever actually made them.
    Further, Tesla sold its first cars in 2008, well before Jobs death.

  10. This article is speculation based on rumors.

    Has Apple really been working on an EV for 20 years? The iPhone is not 20 years old. Project Titan as Apple's car project was internally know has been in progress for a few years. Apple has not announce any EV product – there's no vaporware there. Apple has had a fair team working on developing a product. If they release something in 2024 or later it won't be announced until it's ready to go as a full product – design, manufacturing and marketing. Recalling the doubts when Apple announced the iPhone is humbling to any predictions. Tesla is doing well but they don't seem to be unbeatable. Self-driving as an advantage is oversold. It's a long way away, more than 5 years at least.

    I don't know about Xiaomi, if they announced something.

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