Finweek English Edition - - IN BRIEF -

The year by which Ap­ple aims to pro­duce its first elec­tric car, Bloomberg re­ported. Ap­ple will com­pete with Tesla Mo­tors and Gen­eral Mo­tors, which are aim­ing to re­lease elec­tric ve­hi­cles by 2017. The cars are ex­pected to cost less than $40 000 (R470 698) and drive more than 300km on a sin­gle charge. Ap­ple has sub­stan­tial re­sources to throw at the prob­lem − it re­ported a record profit of $18bn (R212bn) in the past quar­ter and has $178bn (R2.1tr) in cash.

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