Apple Car Not Coming Anytime Soon, Porsche Or No Porsche, Says Analyst

Volkswagen Group VWAGY-owned sports car maker Porsche AG could probably take two to three years to enter mass production for a potential project with Apple Inc AAPL, popular analyst Ming-Chi Kuo said on Sunday.

What Happened: Kuo said if the “possible projects” refer to the iPhone maker’s much-rumored Apple Car, then Porsche currently seems unsure on the details.

The analyst said by the time Porsche figures out “what [it] should do and when to start,” it would probably take, at least, two to three years to enter mass production.

See Also: Apple May Not Launch New Products With Mini-LED Displays This Year, Says Analyst

Why It Matters: Porsche CEO Oliver Blume told investors on Friday that the sports car maker and Apple have held early discussions about potential joint projects beyond the current scope. 

Blume did not provide further details. Emails sent to Apple and Porsche did not elicit a response at press time.

The reveal further reignited Apple’s long-rumored electric car foray to take on Tesla Inc TSLA and other EV makers.  

Blume revealed Porsche currently has “Apple CarPlay," which allows iPhone users to integrate and play their smartphone's functions with the car's entertainment systems. 

The two companies have discussed “a range of exciting projects," according to Blume.

Price Action: VWAGY stock closed 1.2% higher at $24.6 a share on Friday.

Photo courtesy: Porsche