Apple Abandons Electric Car Efforts, , Reports Say.
Apple's electric vehicle (EV) project, known to insiders as "Project Titan," has reportedly come to an end, according to CNN. .
Apple's electric vehicle (EV) project, known to insiders as "Project Titan," has reportedly come to an end, according to CNN. .
Employees who were working on
the project, which has likely been in development for at least 10 years, .
will reportedly transfer to Apple's AI division. .
The tech giant is following a trend,
with investors’ enthusiasm for electric
vehicle investments waning, amid
the frenzy for all things AI. , Susannah Streeter, head of money and markets at U.K.-based
investing platform Hargreaves Lansdown, via CNN.
It’s vital that Apple stays one step
ahead in developing the tech people crave,
to justify its products’ high price points,
so fully exploring the opportunities AI
presents for its future ranges is essential, Susannah Streeter, head of money and markets at U.K.-based
investing platform Hargreaves Lansdown, via CNN.
While Apple never officially
confirmed its EV aspirations, .
it obtained several vehicle-related patents
and hired automotive executives over
the years, among other things.
In 2020, Elon Musk even said that he
once tried to sell Tesla to Apple. .
Meanwhile, iPhone manufacturer
Foxconn revealed plans to produce EVs, .
Meanwhile, iPhone manufacturer
Foxconn revealed plans to produce EVs, .
with CEO Young Liu telling CNN that the business model for such vehicles "should be reinvented."
