After all?
Rest in Peace Titan
After nearly a decade of secret development, Apple has officially given up on making electric cars.
A person familiar with internal affairs said: bloombergMark Garman said the tech giant is canceling a project codenamed Titan, affecting about 2,000 employees.
According to the report, Chief Operating Officer Jeff Williams and Project Vice President Kevin Lynch told employees that the project would begin to wind down and that many of them would be transferred to the company’s AI division. He reportedly informed his staff. The current hype surrounding this technology.
However, it is still unclear how many engineers and designers will ultimately be laid off.
While it sounds like an unexpected move from the tech giant, investors took the news optimistically and Apple stock rose. Even Tesla CEO Elon Musk agrees. Tweet A salute followed by a cigarette emoji, but he leaves it up to the reader to decipher what he’s trying to say.
bad apple
Project Titan had already gone through many difficult times and had changed leadership several times over the years. In 2021, then-project leader Doug Field left the company to join Ford as chief executive of advanced technology and embedded systems.
Apple has also repeatedly reined in its ambitions, including scaling back from a steering wheelless car to a Tesla-like Level 2 self-driving car.
Interest in the EV space has since declined significantly, suggesting that U.S. automakers face significant headwinds in selling fully battery-powered vehicles.
Musk himself warned in his fourth-quarter earnings conference last month that growth was “significantly slowing.”
Even with the eye-watering price tag of $100,000, management was concerned about keeping profit margins high enough, Garman said.
So moving these existing resources to generative AI is probably smart, and in many ways would have been smarter years ago.
Project details: Apple abandons fully autonomous driving for next-generation car
