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iPhone Maker Apple Kills Its Electric Car Project Amid Major Automaker’s Brake On EVs Push
iPhone maker Apple Inc. kills its self-driving electric car project, according to Bloomberg, amid major automaker’s brake on EVs push.
The tech giant’s decade long secretive self-driving electric car project, nicknamed Project Titan, began in 2015.
While Apple may have canceled its electric car project, the long-awaited Xiaomi SU7 is due on sale globally this year.
The cancelation of Apple’s project follows major automaker’s decisions to put a brake on their EVs push, amid declining demand and sales.
Apple Car renderings by Vanarama
iPhone maker, Apple Inc., is canceling its decade long secretive self-driving electric car project, nicknamed Project Titan, a source familiar with the matter told to Bloomberg on Tuesday.
According to Bloomberg News, which first reported the development, several employees working on the electric car project will be shifted to the firm’s artificial intelligence (AI) division.
“If it is true, Apple will put more focus on GenAI and that should give investors more optimism about the company’s efforts and ability to compete at a platform level on AI,” said Ben Bajarin, chief executive of consulting firm Creative Strategies.
Apple has spent billions of dollars researching the car, internally code-named Titan and Project 172. The self-driving Apple EV was intended to rival electric cars from Tesla as well as Xiaomi.
While Apple may have canceled its self-driving electric car project, the long-awaited SU7 (SU stands for Speed Ultra) from Chinese smartphone maker Xiaomi is due on sale globally this year.
The cancelation of Apple’s project follows major automaker’s decisions to put a brake on their Electric Vehicle (EVs) push, amid declining demand and sales of battery-powered electric vehicles.
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