Apple shares are rising, Tesla is declining after the report that “iCar” could appear in 2024

Apple Inc. acts LPA,
+ 1.24%
closed earlier on Monday, following a report that the technology giant aims for 2024 in the year in which it produces a passenger vehicle.

Apple plans to move forward with its own version of auto-driving technology, including an “advanced” battery design following a project that began in 2014, Reuters reported, citing people familiar with the issue. Apple declined to comment to Reuters on its plans.

Shares of Apple rose 1.2% to $ 128.23 after falling 2.5% earlier in the session, with a directly visible gain after the report arrived late in the session.

Tesla Inc. TSLA acts,
fell 6.5% to $ 649.86, following a session in which shares reached an intraday high of 3.8% below Friday’s closing price and fell directly after the report was released.