Here Is Another Hint That Apple Inc. (NASDAQ:AAPL) Is Developing A Car

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Apple Inc. (NASDAQ:AAPL) was recently awarded a new patent that goes a long way to fuel speculations that the company is developing a car or, at least, is doubling down on auto industry. The patent describes how an iPhone can be used as a virtual car key. Although it appears building on the potent would let the iPhone function as a digital key for any car, the patent is the latest indication of Apple’s growing influence in the auto industry.

Bluetooth connection

Apple Inc. (NASDAQ:AAPL)’s patent details how the iPhone could establish a connection with the car via Bluetooth. With that, the driver can unlock the car doors and start the engine with only a few taps on their handset. An app based on the patent could also extend support to secondary devices for car controls such as when you want to lend out your car to a friend for a short period.

The advent of digital car keys

Although Apple’s dream digital car key based on iPhone may open new possibilities, the concept is not totally new. Ford Motor Company (NYSE:F) is among the automakers that have already enabled drivers to lock and start their cars through an app installed on their phones. But Apple is known to grab existing technologies and turn them into something incredibly useful and that could be true with the virtual car key technology.

Looking at the efforts Ford, Apple Inc. (NASDAQ:AAPL) and other are making in the auto industry, you get a feeling that the days of physical keys that make noise in the pocket are numbered.

Apple auto investment

Apple Inc. (NASDAQ:AAPL)’s latest patent about virtual vehicle key comes after the company recently made a $1 billion investment in a Chinese taxi company called Didi Chuxing. Although Apple tried as much as possible not to link the investment in the Chinese alternative to Uber with its rumored Project Titan, it left no doubt about the company’s growing appetite for the auto industry.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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