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Apple is reportedly abandoning efforts to build electric cars after spending nearly a decade and billions of dollars on the project.
To quote a person close to me, reported by bloomberg Apple internally announced on Tuesday that it was discontinuing its EV effort, known as Project Titan, surprising the roughly 2,000 employees who had been working on it.
Apple has reportedly canceled its EV project, which had been in secret for nearly 10 years. (Smith Collection/Gado/Getty Images)
According to the report, some employees will be reassigned to focus on Apple’s generative artificial intelligence division, while others will be laid off.
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Apple did not immediately respond to FOX Business’ request for comment on the report.
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| AAPL | Apple. | 182.63 | +1.47 | +0.81% |
Rumors have been circulating for years that Apple is trying to develop self-driving electric taxis to compete with EV giant Tesla. According to The Verge, the first reports about this top secret project surfaced in 2015.
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| TSLA | Tesla Inc. | 199.73 | +0.33 | +0.17% |
Apple CEO Tim Cook has confirmed that In 2017, it was revealed that the iPhone maker was working on an autonomous system that could be applied to self-driving cars.
CEO Tim Cook appears as people line up to buy the Apple Vision Pro headset at the Apple Store on Fifth Avenue in New York City on February 2, 2024. Cook acknowledged several years ago that the iPhone maker was working on self-driving car technology. (Michael M. Santiago/Getty Images)
In an interview with Bloomberg at the time, Cook called the effort “the mother of all AI projects… probably one of the most difficult AI projects.”
That same year, Apple received permission from the state of California to test vehicles equipped with self-driving devices on public roads.
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But in the end, management decided earlier this month to scrap the project after it reached a “make-or-break point,” Bloomberg reported on Tuesday.
