*By Carlo Versano* Buried in a recent [Information](https://www.theinformation.com/articles/waymos-big-ambitions-slowed-by-tech-trouble) report about Waymo's struggles in the self-driving car space was a new bit of intel on Apple's ambitions in the auto world: "Apple, which is working on its own self-driving car, recently set up a facility for testing prototype vehicles near Surprise, Ariz., west of Phoenix, according to a person briefed about the matter." And while it's been rumored for some time that the iPhone maker has been exploring entering the car industry, HyperChange TV's Galileo Russell points out details are up for debate. Some analysts think the company would be more likely to build an operating system for an electric car, though not the car itself. But even that theory flies in the face of a basic tenet of Apple's business model, Russell said. "They're a hardware company ... If they're going to make a move here, they would actually just build it all themselves." Rumors of Apple's interest in building an electric car re-emerged with a vengeance when it poached Tesla's head engineer, Doug Field, earlier this month. On Tuesday, the Apple Insider blog [posted](https://appleinsider.com/articles/18/08/28/apple-researching-refinements-to-sunroofs-seating-for-project-titan-car) what it said were patents filed by Apple that show it's actively working on physical automobile systems, such as sunroof and seat designs. Russell said he sees a day where it's Apple and Tesla versus everyone else in the auto industry. "If I was GM or Ford, I'd be very, very worried about those two companies." Earlier this month Ming-Chi Kuo, a prolific Apple analyst, [predicted](https://www.digit.in/vr-ar/apple-car-to-make-apple-2-trillion-company-claims-ming-chi-kuo-42890.html) that the 'Apple Car' will launch between 2023 and 2025 and will be the catalyst to give the company a $2 trillion valuation. But Russell actually thinks the company will get there based on the strength of its services component alone. For full interview [click here](https://cheddar.com/videos/prospects-for-an-apple-car).

Share:
More In Business
Stretching Your Dollar: How to Negotiate Medical Bills
With high healthcare costs, bills can quickly add up. In some cases, it is possible to negotiate your medical bills. Barak Richman, law professor at George Washington University, joined Cheddar News to discuss the easiest way to talk to medical debt companies about what's owed.
Stretching Your Dollar: Navigating Insurance
Millions of people have selected insurance plans for 2024 but sometimes navigating them can be tricky time consuming and expensive. Paula Pant, host of 'Afford Anything' podcast, joined Cheddar News to break down what's needed to know about their insurance plans.
Study: Over 58% of Hybrid Workers Are 'Coffee Badging'
With more employees being called back to the office, many workers are suddenly protesting by being in the office for as little time as possible. As the term suggests, coffee-badging means coming in for just enough time to have a cup of coffee, show your face, and swipe your badge.
Securitize: Join The Private Credit Boom
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Load More