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Porsche and Apple Could Join Forces to Take on Tesla

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Porsche and Apple Could Join Forces to Take on Tesla

In 1963, movie fans were seen seeing their two favorite movie giants fight each other in “King Kong vs. Godzilla.”

We won’t tell you how it ended in case you didn’t see it, but don’t worry, it’s a huddinger.

“My iPhone on wheels?”

Now, nearly 40 years later, another epic battle may be brewing in the automotive world.

The competition includes two of the most important developments in the automotive industry since the Model T rolled off the assembly line: electric engines and self-driving cars.

On the one hand, we have Tesla (TSLA) – Get Tesla Inc report, the reigning champion of electric vehicles.On the other hand, we have the computer giant Apple (AAPL) – Get Apple Inc. Report and Porsche (VWAGY) – Get the Volkswagen AG report.

Porsche, one of the luxury brands of German giant Volkswagen, is looking to become independent in the coming months, as we wrote in February.

No specifics were given, but Porsche CEO Oliver Bloom said in a video conference about annual earnings that his employees met with Apple employees last year in California to discuss joint projects.

Blume said Porsche and Apple “continue to talk, but said it’s too early to discuss any details,” a spokesperson told TheStreet in an emailed statement.

These meetings between representatives of two of the world’s biggest brands have sparked speculation about a possible alliance to jointly develop cars in a partnership between Apple and Goldman Sachs (GS) – Access to Goldman Sachs Group ReportsThe last alliance is behind the Apple Card, which embodies the Tim Cook Group’s ambitions in financial services.

“My iPhone on wheels?” asked one person on Twitter.

“The Volkswagen Group and Apple make the most sense,” said another commenter. “Volkswagen is turning to electric cars in part to change their corporate image of cheating on diesels. Partnering with Apple would also be a good option for Volkswagen.”

This isn’t the first time Apple and Porsche have collaborated.

The two companies have collaborated on projects in the past, including Apple CarPlay, which allows a car radio or audio device to become a display and controller for an iOS device.

all electric

Like all major automakers, Porsche plans to get rid of internal combustion engines in the near future.

Blume said he expects that by 2030, more than 80 percent of the company’s new car sales will be pure electric.

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Tesla and Volkswagen are practically neighbors in Germany, as both companies recently unveiled plans to operate electric-vehicle manufacturing plants within 140 miles of each other.

As for Apple, the Cupertino, California-based company has been working on its own cars for years. The latest news, dubbed “Project Titan,” is that the company will launch a fully self-driving car in 2025.

However, the state of Apple’s car program is a bit murky.

“The Apple Car project team has been disbanded for some time,” KGI Securities analyst Ming-Chi Kuo tweeted on Tuesday.

“The restructuring over the next three to six months is necessary to achieve the target of mass production by 2025,” he said.

Apple did not immediately respond to a request for comment.

Tesla’s Elon Musk has made self-driving cars a priority, telling analysts in January that the full self-driving feature will be Tesla’s first growth engine.

“Full Self-Driving. So, over time, we think full self-driving is going to be Tesla’s most important source of profitability. Actually, if you run the numbers on a robo-taxi, it’s kind of crazy — it’s going from From a financial standpoint, it’s been fantastic,” Musk said.

Porsche 911 Targa 4

Hit the road, Jack

Through a program called the Full Self Driving Beta, or FSD Beta, Tesla is allowing thousands of people to try new and unfinished driver-assist features on public roads in the United States.

Federal regulators have some good news lately from Tesla and GM (GM) – Get General Motors Corporation Report When they work on self-driving car projects.

The U.S. Department of Transportation’s National Highway Traffic Safety Administration released an update this week about vehicles that don’t have “the traditional manual controls associated with human drivers because they are equipped with automated driving systems.”

Musk said last year that he was considering releasing the Tesla Model 2 without a steering wheel or pedals.

All of this comes as Volkswagen is looking into the possibility of giving independence to Porsche, one of its luxury brands alongside Bentley, Bugatti and Lamborghini.

Porsche is currently 100% owned by the Volkswagen Group, which in turn is controlled by a financial holding company called Porsche SE.

Independence will take the form of a Porsche IPO, and the sports car brand’s iconic model remains the Porsche 911.

Keep popcorn handy.

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