With Tesla's rise to prominence (including billions in fundraising through its high stock price), Amazon deeply invested in the space, and now further reporting of Apple going to consumers with a new car, how much longer can gas-powered cars possibly have?
Innovation in these space seems to take forever, but once there is breakaway momentum it also seems like the old technology gets replaced in a hurry.
Apple has shifted in the past decade from being a company that does new things to one that is second or third to market, but comes with a really polished product. If they've been working on cars since 2014, and there is now a lot of proof that cars can be a technology play, I would not bet against them. At a valuation of over 2 trillion dollars, they need to find new lucrative markets.
I'm not one to develop much of a "rooting interest" as far as raw capitalism goes, but electric vs gas-powered cars is definitely a space where I'm rooting for the EV folks. Car batteries are a whole different beast than phones, but no company is better positioned against Tesla in the battery game than Apple after a few decades of battery supply chain work.
Let's not forget that batteries are their own ecological hazard that needs further innovation, but as far as step-change shifts away from the earth's major pollutants, I'm really excited about this competition.