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Apple Inc. (AAPL) Real Shadowy Car Group Shows up in the Light

Apple Inc. AAPL, Project Titan

Apple Inc. Car has been in the news for quite some time now. But now, a mysterious California firm has been spotted at an automotive industry conference, who is believed to masking the development of Apple’s car.

Apple Inc. AAPL, Project Titan

What makes SixtyEight so special?

SixtyEight Research was one of the attendees in the EuroCarbody 2015 Global Car Body Benchmarking Conference. The conference provides a platform to the suppliers and car firms to discuss new methods for making car parts.

Many big US firms are attending the conference including Alcoa. There is nothing odd about that, but one name that may ring a bell is SixtyEight. It’s the only US firm in the conference that is not a major supplier in the industry, notes 9to5Mac. SixtyEight is quite small compared to other in the conference.

Earlier this year, Apple Insider did give a similar hint on a connection between SixtyEight and Apple. SixtyEight has a small office with little “sign of activity,” says Apple Insider.

On its website, SixtyEight describes itself as “market research firm,” but it turning up at an auto conference suggests otherwise. Another fact that signals a possible connection between the two is – SixtyEight’s headquarter is very near to Apple Inc. ’s major satellite office.

Apple not backing this Tesla rival

Talking of the Apple car, recent reports say that a well-funded Faraday Future may be the front for Apple Apple’s Project Titan. But, Apple is likely not involved. There is clear evidence that the firm is being backed up by LeTV, a Chinese tech firm.

Recently, Faraday hired quite a few staff from Tesla Motors, a move that caught the attention of many. On digging further, the LATimes found that the firm has named Chaoying Deng as its CEO. According to a LinkedIn profile, Deng is also a director at Le Vision Pictures, a LeTV subsidiary.

Previously, Tesla Motors also said that Faraday is getting funding from LeTV, but LeTV negated it, calling it a “speculation.”

Founded by Jia Yueting, LeTV is known as the Netflix of China. Yueting sold $1.61bn worth of LeTV’s shares earlier this year, of which $1.2bn he loaned back to the firm for work on several projects including  electric cars.

On Monday, Apple Inc. shares closed down 0.40% at $120.57. Year to date, the stock is up over 9% while in the last one-month, it is up almost 8%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.

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