Finally an Apple Car! Apple Officially Enters Self-Driving Cars Race

Ending years of speculation, Apple’s late entry into a crowded field was made official on Friday with the disclosure that the California Department of Motor Vehicles had awarded a permit for the company to start testing its self-driving car technology on public roads in the state.

The Cupertino, California, company pointed to a statement that it issued in December: “Apple is investing heavily in machine learning and autonomous systems,” the company said then. “There are many potential applications for these technologies, including the future of transportation.”

Its interest in autonomous vehicle technology has long been clear.

The permit by DMV covers three vehicles – all 2015 Lexus RX 450h hybrid SUVs – and six individual drivers. California law requires people to be in a self-driving car who can take control if something goes wrong.

Like others, Apple believes self-driving cars could ease congestion, prevent millions of crashes and save thousands of lives annually in traffic accidents often caused by drunk or distracted motorists. Not only that, Apple has been searching for its next act for a while, one that will take it beyond its mainstay phones, tablets and personal computers.

The company hasn’t had a breakthrough product since the 2010 debut of the iPad, currently in the throes of a three-year sales slump. The dry spell has raised doubts as to whether Apple lost some of its trendsetting magic with the death of co-founder Steve Jobs in 2011.

iPhone’s ongoing popularity has helped Apple remain the world’s most valuable company. Apple will be vying against 29 other companies that already have California permits to test self-driving cars. Since Google began its work on self-driving vehicles eight years ago, Waymo’s fleet of self-driving cars has logged more than 2 million miles on the road.

With $246 billion in cash, Apple also could easily afford to buy technology that accelerates its development of self-driving cars. There has been recurring speculation that Apple might eventually acquire Tesla, which has a market value of about $50 billion. Neither Apple nor Tesla has given any inkling that they’re interested in joining forces, though.

Apple has a long way to catch up in self-driving technology, but then, it has often been a follower in markets that it eventually revolutionized. It wasn’t the first to introduce a digital music player, smartphone, or tablet before its iPod, iPhone and iPad came out.

See Original Article: Finally an Apple Car! Apple Officially Enters Self-Driving Cars Race