Ten years after it was first claimed that the manufacturer of the iPhone was working on the project, Apple is said to have scrapped its intentions to manufacture electric cars (EVs). The initiative, which employs about two thousand people, has never been acknowledged by the company in public. According to Bloomberg News, a large number of project workers will be transferred to the artificial intelligence (AI) section of the iPhone manufacturer. Apple did not answer a request for comment from the BBC right away.
As part of CEO Tim Cook’s Project Titan, the Apple automobile crew was allegedly referred to as the Special Projects Group. The business was first reported to be working on a fully driverless car without a steering wheel or pedals while it spent billions of dollars on research and development. It was believed that the team would still need years to produce a car. The company has been looking into potential outside of the iPhone and PCs, such as with its newly released virtual reality headset, the Vision Pro. Because borrowing prices are still high, demand for EVs has decreased recently. This has increased market competition as large players compete for clients.
The two biggest automakers in the US, Ford and General Motors, have delayed their plans to increase EV production in recent months. Electric truck manufacturer Rivian announced last week that it will reduce employment by 10% and that it does not anticipate increasing output this year. Tesla issued a warning in January, stating that this year’s sales growth will be slower than that of 2023. Under the leadership of multibillionaire Elon Musk, the business has been slashing costs in Europe and China, two of the world’s most important markets, in response to fierce competition from Chinese rivals like BYD. Emojis of a salute and a cigarette were used by Mr. Musk to response to a story about the Apple project’s demise on the social media platform X, which was formerly known as Twitter.
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