What you need to know
- Porsche announced its annual results on Friday.
- CEO Oliver Blume said the company had discussed "exciting common projects" with Apple.
- He made no further comments and said no decision had been made.
Volkswagen giant Porsche has revealed the company has discussed "exciting common projects" with Apple but did not give any further information about the possible venture.
As reported by Reuters:
Volkswagen's sportscar maker Porsche has discussed what its CEO said were exciting common projects with iPhone maker Apple (AAPL.O), but he said no decision had been made yet.
CEO Oliver Blume made the comments on a video call Friday as the carmaker announced its annual results. It also revealed it is continuing to consider entering Formula One.
It is not clear what Blume's comment might be referring to. Certainly, there are rumors Apple has its own Apple Car in the works, likely an electric vehicle with at least some autonomous driving capabilities. There are multiple reports that Apple has been seeking an established carmaker as a partner for the manufacturing of its Apple Car, notably Hyundai and Kia. Porsche is a much more premium manufacturer focused on luxury, high-performance vehicles, however, it is backed by its much larger parent company Volkswagen.
However, there is every possibility Blume's comments may pertain to something interesting but far less exciting, for example, deeper integration with Apple's products and services. Apple has partnered with BMW to roll out its Apple car keys feature for iPhone, which lets users unlock their car doors with devices like the iPhone 13.
A report from earlier this week reiterated that Apple's Car Team has been dissolved for some time and that it was in dire need of reorganization if Apple wants to meet its rumored 2025 mass production goal.
