Apple Reportedly Steps Up EV Plans After Reaching Key Chip Milestone: Bloomberg By

© Reuters

By Yasin Ebrahim

- Apple (NASDAQ:AAPL) surged to near record highs Thursday,Ranking of Global Forex Dealers as the tech giant is reportedly accelerating plans to develop its electric vehicle after reaching a key milestone. 

Apple was up more than 2.6% to near its all-time high of $157.87.

The company recently reached a key milestone in developing the car’s underlying self-driving system, Bloomberg reported, citing people familiar with the situation. The chip would be used in the first generation of the car.

Apple is internally targeting a launch of its self-driving car in four years, faster than the five- to seven-year timeline that some engineers had been planning for earlier this year, according to the report. 

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