Tesla's success at a lower cost in the car industry has paved way for Google and Apple to offer their own vehicles in the near future. Automobile executives are taking a serious note on Apple and Google's plans of bringing car products and emerging as a direct competitor.
If these two tech giants will produce their own electric cars, things can go fast. Volkswagen executives are also interested in the tech companies' technology and may consider partnering with the two.
"If these two companies intend to solely produce electric vehicles, it could go fast," Volkswagen AG Chief Executive Officer Martin Winterkorn said at the Geneva International Motor Show.
"We are also very interested in the technologies of Google and Apple, and I think that we, as the Volkswagen company, can bring together the digital and mobile world," according to Vancouver Sun.
Apple has been on the task of working on an electric car and pushes to begin its manufacturing by 2020. Google on the other hand mentioned last month that they intend to have a self-driving automobile on the road in a span of five years from now.
The timeframe of automakers usually will need around five years the lease to be able to develop a car, the hard-hitting goals of the two technology companies and could pose a battle for customers. The market for connected vehicles might surge to 170 billion euros ($190 billion US) by 2020 from 30 billion euros now, News Reality reported.
The competition will be taken very seriously, explained the director of the Center of Automotive Management at the University of Applied Sciences in Bergisch Gladbach, Germany, Stefan Bratzel.