The decision to cancel the project was shared internally, surprising many employees. Apple CEO Tim Cook has previously stated that the company is investing heavily in generative AI. The company has been hiring for generative AI roles and reportedly plans to spend over $1 billion annually on generative AI products and features.
Key takeaways:
- Apple Inc. has decided to cancel its ambitious electric car project, Project Titan, and will move the employees to its artificial intelligence division.
- The project, which began in 2014, was expected to compete with Elon Musk's Tesla, but faced numerous challenges and was still years away from producing a car.
- Many of the nearly 2,000 employees who were working on the project will now focus on generative AI projects, aligning with Apple's growing emphasis on artificial intelligence.
- Apple CEO Tim Cook has previously stated that the company is investing significantly in generative AI, with plans to spend over $1 billion every year to develop generative AI products and features.