Ford Just Put Apple Maps in the Dashboard of a $30,000 EV. Apple Didn't Have to Build a Car.

Yahoo Finance ·

Apple ( AAPL +3.52% ) spent about a decade trying to build a car and canceled the effort in February 2024. Roughly 2,000 employees were reportedly working on it, and the company is reported to have spent billions before shutting it down and moving much of the team to artificial intelligence (AI) . But Apple's technology is still finding its way into vehicles. Apple and Ford ( F +1.55% ) announced that Apple Maps will power the navigation experience in Ford's Universal Electric Vehicle Platform beginning in 2027, delivered through a new developer kit Apple calls MapKit for Automotive. The first vehicle on that platform is a midsize electric vehicle Ford has priced around $30,000. "Our new midsize electric vehicle will be priced around $30,000 and redefines what advanced technology can be," said Ford CEO Jim Farley in Apple's announcement.

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Although Apple cancelled its in-house car development project in February 2024, it officially entered the automotive software market through a partnership with Ford. Starting in 2027, Apple Maps will be integrated as the default navigation on Ford's upcoming $30,000 next-generation EV platform. This represents a strategic pivot for Apple, expanding its technology ecosystem into the automotive industry while avoiding the risks of direct car manufacturing. Investors should take note of Apple's business model, which generates software revenue without hardware risks.

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