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Apple shuts EV car project: Did you know Apple was once in talks to buy Tesla?

Mar 01, 2024 - businesstoday.in
Apple has reportedly abandoned its decade-long Project Titan, which aimed to manufacture an AI-powered smart car, surprising the industry and the 2,000 employees involved in the project. The smart car was expected to compete with Tesla, a company Apple had previously considered acquiring. In 2015, Tesla's Elon Musk proposed that Apple acquire Tesla with the condition that Musk become the new Apple CEO, a proposition that was declined by Apple's Tim Cook.

Instead of acquiring Tesla, Apple decided to create its own smart car, planning a Siri-controlled vehicle without a steering wheel or pedals. However, this autonomous car project was eventually scrapped. Employees working on Project Titan will now be moved to Apple's AI division. Elon Musk responded to the news of Apple abandoning its electric car plans with a salute and cigar emoji on social media.

Key takeaways:

  • Apple has abandoned its plans to manufacture its own AI-powered smart car, Project Titan, surprising the industry and the 2,000 employees who had been working on the project for the past decade.
  • Apple was once in talks to acquire Tesla in 2015 when the EV maker was on the verge of bankruptcy. Elon Musk proposed that he would become the new Apple CEO as a condition of the acquisition, but the deal did not follow through.
  • Apple had plans to build a Siri-controlled car without any steering wheel or pedals, but this autonomous car project was also abandoned.
  • Employees working on Project Titan will be shifted to the company’s artificial intelligence (AI) division, indicating a shift in focus towards AI.
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