Apple’s market value has risen by around $100 billion (£740 million) on news it has made a breakthrough in its development of its own next-generation car.

Reuters has spoken to sources who told it that Apple is targetting 2024 to produce its own vehicle with “breakthrough battery technology”.

It’s thought that the new batteries will make Electric Vehicles much more affordable by cutting costs while increasing range, and that this technology will be fused with work done by outside partners on driverless technology.

Reuters comments that it remains unclear who would assemble an Apple-branded car, or even if it will instead decide to provide its technology to a car maker, rather than making its own vehicle.

(Picture – Yay images stock photo)