Tag Archives: tsla

Apple Car Team Nabs Top Tesla Motors Executive

Apple ( AAPL ) reportedly has hired Chris Porritt, former Tesla Motors ( TSLA ) vice president of vehicle engineering and former Aston Martin chief engineer, to work on its Project Titan electric car venture. Electric vehicle news website Electrek reported the hire on Tuesday. It said Porritt is “a likely candidate to lead (Apple’s) electric car initiative.” This year, Steve Zadesky, the 16-year Apple veteran leading the car project, departed the company. Senior executives were not satisfied with the direction and progress of the project, according to news reports. At Tesla, Porritt reportedly worked on the Model S and X platforms, as well as the Model 3 chassis, Electrek said. At Aston Martin, Porritt was credited with making some of the company’s most iconic vehicles in recent years, including the One-77 supercar, V12 Zagato and Aston Martin DB9, Electrek said. Apple is targeting a 2019 release for the car, according to media reports. An estimated 1,000 people are believed to be working on an Apple car at a complex in Sunnyvale, Calif., under the name SixtyEight Research, Motor Trend reported last week . Apple has been poaching engineers from Tesla, Ford Motor ( F ) and Mercedes-Benz. On Monday, a German newspaper reported that Apple is developing the Apple car in a secret lab in Berlin. It is working alongside potential partner Magna Steyr, the world’s largest contract automaker, Frankfurter Allgemeine reported. Apple might be planning to build the vehicle in Vienna, Austria, by teaming up with Magna, Business Insider said . RELATED: Middle-Aged Apple Might Get A Sports Car, New Girlfriend

Apple Car Will Look Like Egg On Wheels If Motor Trend Design Right

Apple ( AAPL ) has not revealed whether it is making an electric car, but rumors of the vehicle have imaginations firing. Motor Trend, one of the most respected car magazines, on Thursday published its own speculation about the Apple Car . For its deep dive into what the Apple Car would look like, it consulted auto industry experts and faculty at the ArtCenter College of Design in Pasadena, Calif. It produced illustrations for a possible Apple Car based on the company’s design ethos around simplicity and elegance as well as knowledge of where technology is headed. The artist’s conception of the Apple Car by Motor Trend shows an almost egg-shaped vehicle with a glass ceiling and light gold body lacking traditional features like door handles and rear-view mirrors. It sports double-wide gull wing doors and a Tron-like light bar that wraps around the car to provide turn signals and other indicators. As Motor Trend sees it, the Apple Car would be packed with artificial intelligence for autonomous driving and for accepting voice commands via Siri. It would recognize the driver from their Apple Watch or iPhone or biometrics. No keys would be required to start it. The centerpiece of the interior would be an augmented reality windshield on which important information would be projected, the magazine said. Cameras plus windshield or dashboard screens would replace rear-view mirrors, it said. “An augmented reality ‘windshield’ is among the most persistent Apple Car rumors and thought to be the likeliest part to survive if the rest of Project Titan is canceled,” Motor Trend said. The electric car could be charged from below using wireless induction charging so it wouldn’t need a power cord, the publication said. An estimated 1,000 people are believed to be working on an Apple car at a complex in Sunnyvale, Calif., under the name SixtyEight Research. Apple has been poaching engineers from Telsa Motors ( TSLA ) and other car companies. Apple is targeting a 2019 release for the car, according to media reports. The speculative Motor Trend report and artist’s conception of the Apple Car were widely mocked on social media. Many readers called the science-fiction pod design ugly.

Apple, Amazon Lead 5 Tech Stocks Making Notable Moves

Loading the player… Apple ( AAPL ), Amazon ( AMZN ), Tesla ( TSLA ), Fitbit ( FIT ) and Yahoo ( YHOO ) are five big-name tech stocks making notable moves in the stock market today as the major indexes rally for a second session. The Nasdaq is trading at its highest level this year, and the S&P 500 is trading higher than the levels it saw in late December. Apple Retakes 200-Day Line Apple hit resistance at its 200-day moving average for the past week and a half, but looks like it may be able to close above that level today with a 1.5% gain in above-average turnover. Apple hasn’t traded above the 200-day since November, and that was only briefly. The stock is now 16% below its late-April peak. The consumer tech giant is set to report quarterly results in a few weeks. Analysts have been expecting lower iPhone demand this year, but some say there may be a pickup once the iPhone 7 is launched. Amazon Breaks Out Amazon is breaking out of a cup-with-handle base with a 603.34 buy point, rising 1.6%. Volume is tracking above average. The stock tried to edge into buy range the last two sessions but closed below the pivot. Shares are now trading 12% below their high reached in late December. Citi on Tuesday said Amazon is one Internet stock that has the greatest opportunity to produce better-than-expected Q1 results, which the e-commerce giant will report later this month. Tesla To End Losing Streak? Tesla is looking to end its four-session losing streak as it climbs back above the 250 price level with a 2.4% rise. But volume is not strong. The electric car maker is trading 11% below its July high. On Tuesday, Tesla introduced a few upgrades to its Model S, and Global Equities Research says this will improve the car’s production rate by 10%. That could be a good sign as Tesla is ramping up production of its Model X and prepping production for its Model 3. Fitbit Surges On Bullish Report Fitbit is jumping 12.7% in big volume, hitting a more than two-month high. The stock is trading 67% below its all-time high. Citi issued a bullish report on the stock, saying that Blaze and Alta sales could fuel upside to Q1 results and a positive Q2 outlook. The maker of fitness trackers said late last month that it sold 1 million units of each of the two new models in their first month of availability. Fitbit also reports earnings later this month. Will Yahoo Hit 8-Month High? Yahoo may be able to close at an eight-month high, climbing 1.2%, but volume is tracking lighter than average. Shares are 19% below their 52-week peak. Suntrust Robinson Humphrey raised its price target on Yahoo, which is looking to be acquired.