BUSINESS
2 DAYS AGO
Apple drops electric car plans while Tesla aims to ship Roadsters next year
Apple has exited the EV race, choosing to focus on AI development as Tesla CEO Elon Musk announced a renewed focus on his company’s electric sports car, with deliveries expected next year.
Tesla’s new Roadster is unveiled during a presentation in Hawthorne, California. / Photo: Reuters Archive
REUTERS ARCHIVE
Tesla’s new Roadster is unveiled during a presentation in Hawthorne, California. / Photo: Reuters Archive
Apple has abandoned its ambitions to produce an electric car, US media has reported, ending a struggling decade-long project.
The iPhone maker had dedicated nearly 2,000 employees to its secretive car development program, Bloomberg reported on Tuesday but faced an increasingly competitive electric vehicle (EV) sector.
The target of “Project Titan,” beginning around 2014, was to develop a fully autonomous car, according to media reports.
The decision to shut down the car project was announced internally on Tuesday, Bloomberg and The New York Times reported, citing unnamed sources.
Apple had reportedly invested billions of dollars in the project.
Apple has never publicly disclosed its EV plans, despite a steady drip of media leaks over the years.
Several US automakers have hit the brakes on EVs in recent months as demand has slowed. Self-driving carmakers Cruise and Waymo – which is owned by Google parent Alphabet – have also struggled to expand their products beyond San Francisco.
Elon Musk’s Tesla, one of the EV industry’s leaders, has also warned of slower growth in 2024.
In a post on X, Musk responded to news of Apple shutting down its car project with emojis showing a salute and a cigarette.
