Apple's long-rumored electric vehicle project, dubbed Project Titan, has reportedly been abandoned after nearly a decade of development and billions of dollars spent. According to Bloomberg, the tech giant announced internally that it was canceling the EV endeavor, surprising the approximately 2,000 employees who had been working on it. Some of these employees will be redirected to focus on Apple's generative artificial intelligence division, while others will be laid off.
Rumors about Apple's foray into the electric vehicle market have been circulating for years, with initial reports emerging in 2015. The company's CEO, Tim Cook, confirmed in 2017 that Apple was working on autonomous systems with potential applications in self-driving cars. Apple even obtained a permit from the state of California to test vehicles equipped with self-driving equipment on public roads.
While the decision to abandon the EV project may come as a surprise to some, top executives reportedly determined that the project had reached a "make-or-break point," leading to the decision to scrap it. Apple has not yet provided a comment on the report.
The move to redirect resources from the EV project to the generative AI division comes at a time when tech companies are increasingly investing in artificial intelligence technologies. Apple's focus on AI aligns with broader industry trends, as companies seek to leverage AI for a variety of applications, including autonomous vehicles.
Overall, the decision to abandon the EV project and shift resources to AI represents a strategic move by Apple to align its investments with emerging technologies and market trends. While the decision may have implications for the future of Apple's automotive ambitions, it also underscores the company's commitment to innovation and adaptation in a rapidly changing tech landscape.