Stocks

Apple hires former BMW, Canoo executive for car project By Reuters

© Reuters. FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar

(Reuters) -Apple Inc has hired Ulrich Kranz, a former senior executive at BMW AG’s electric car division, to help its vehicle initiatives, Apple (NASDAQ:) confirmed on Thursday.

Kranz, who was most recently the chief executive of electric vehicle startup Canoo Inc , will report to Apple veteran Doug Field, who led development of Tesla (NASDAQ:) Inc’s mass-market Model 3 and now runs Apple’s car project, the report said. Bloomberg reported the news earlier on Thursday.(https://bloom.bg/3zbslcq)

The iPhone maker’s automotive efforts, known as Project Titan, have proceeded unevenly since 2014 when Apple first started designing its own vehicle from scratch.

In December, Reuters reported that Apple was moving forward with its self-driving car technology and targeting to produce a passenger vehicle that could include its own breakthrough battery technology by 2024.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button