The Economist:

APPLE’S ability to make desirable iGadgets designed for easy portability is beyond question. Reports emerged this week that it is planning to make a mobile device that will instead carry its users—an electric car. Apple’s plans are unclear and unconfirmed. By some accounts it has put a few hundred people to work developing cars to match Tesla, another Silicon Valley firm that makes fast and luxurious battery-powered saloons. Others reckon that it is working on a self-driving car.
 Plenty of other tech firms are turning their attention to cars. In February Uber, a firm that provides taxis through a smartphone app, said it would set up a laboratory in Pittsburgh to develop self-driving taxis. Sony recently put money into ZMP, a self-driving car startup; Google has been working for years on driverless cars. Silicon Valley is eyeing up the auto industry for two reasons. One is that technology—in the form of electric cars, driver-assistance systems and fully autonomous cars—is already altering the industry. Another is that carmakers themselves look vulnerable, thanks to chronic overcapacity, hefty legacy costs and a spate of damaging recalls.