Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL) are swiftly entering the automobile domain, Google being the leader in this endeavor. The search engine giant announced that it is working on self-driving automated Google Inc (NASDAQ:GOOGL) cars. It almost confirmed now that Apple Inc. (NASDAQ:AAPL) is also following the trail and working on the iCar. Many experts think that these tech cars will pose a massive threat to the car players already sitting in the industry. But CEO of Renault-Nissan thinks the opposite. He clearly says that Google Inc (NASDAQ:GOOGL) and Apple cars will not be a threat to the existing players. He went on to say that the automobile industry is not as profitable as many of us think.
An article on CNBC reported that Carlos Ghosn said that Google Inc (NASDAQ:GOOGL) and Apple Inc. (NASDAQ:AAPL) cars will not make any difference. He thinks that the automobile industry is a saturated domain where high investments are needed and return is low.
Ghosn also said that Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL) cars will not make it to the industry any time soon. Google cars, he thinks, were announced because Google Inc (NASDAQ:GOOGL) wants to introduce technological evolution in the cars industry. On the other hand, tech players like Microsoft and Intel want to work on Cars because they think it will elevate their product curve.
The source quoted an official from BMW who also thinks that Google Inc (NASDAQ:GOOGL) and Apple Inc. (NASDAQ:AAPL) cars will not worry the automobile companies.
Ghosn revealed that his company is working on autonomous cars and they will be launched by 2020.
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