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Apple abandons electric car plans: media

Feb 29, 2024 - energy.economictimes.indiatimes.com
Apple has reportedly abandoned its decade-long electric vehicle (EV) project, "Project Titan", which aimed to develop a fully autonomous car. Despite dedicating nearly 2,000 employees and investing billions of dollars into the project, the tech giant faced increasing competition in the EV sector and internal issues, including the departure of multiple executives. The decision to shut down the project was announced internally, according to unnamed sources cited by Bloomberg and The New York Times.

Following the closure of the car project, many of the employees will be transferred to generative artificial intelligence (AI) projects. Apple is said to be focusing on a broad AI strategy within its ecosystem, with engineers and developers now concentrating their efforts on AI. Generative AI, which can produce text, images, sound and other output, is being pursued by major tech companies worldwide, including Google, Microsoft, Meta and Amazon.

Key takeaways:

  • Apple has abandoned its decade-long project to produce an electric car, facing an increasingly competitive electric vehicle sector.
  • The decision to shut down the car project, known as 'Project Titan', was announced internally and Apple had reportedly invested billions of dollars in it.
  • Many employees from the shuttered car division will be transferred to generative artificial intelligence (AI) projects, with a focus on executing a broad AI strategy within the Apple ecosystem.
  • Major tech companies around the world, including Google, Microsoft, Meta and Amazon, are rapidly pursuing the development and deployment of AI products.
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