The latest idea, of course, is to connect the cars to the Internet and integrate all the services a person can now get in the living room into a car — your car is just a big smartphone with seats, wheels, a motor, and a high-definition display. But the big idea is to lead the way to the age of driverless cars — connectivity is just the beginning and an in-car operating system like iOS is the first step.
It’s also worth noting that Volvo is owned by one of China’s largest car makers, Zhejiang Geely Holding Group. Just in case you were wondering why a company that is not a luxury car maker and sold only 427,840 cars globally last year is included on Apple’s initial list. Gaining a toehold in China is crucial to the success of any project these days.
Google Inc. (NASDAQ: GOOG), with its driverless cars, is also committed to being the leader in new technology for automakers. Microsoft Corp. (NASDAQ: MSFT) and International Business Machines Corp. (NYSE: IBM) are other contenders for platform dominance.
Apple’s reported inquiries to acquire Tesla Motors Inc. (NASDAQ: TSLA) fit right into a scenario where Apple’s iOS becomes the operating system for a new type of technological carmaker. Cars would no longer be just expensive hunks of metal, but mobile social media devices. (It should be noted that Tesla CEO Elon Musk recently called a sale of the company “very unlikely.”)
But there’s kind of a chicken-and-egg thing going on here. Which should come first, the in-car OS or the driverless car. The in-car OS is leading because it’s merely an extension of technology that has been widely adopted already. But without the driverless feature, is it really going to fire consumers’ imagination? That’s the challenge for Apple and the others.
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.