Apple is abandoning its secretive and long-running endeavor to create an autonomous electric car, according to Bloomberg. The project’s workforce has already been reduced, as confirmed by TechCrunch.
The extent of the layoffs has not yet been disclosed, but sources suggest that many of the approximately 2,000 employees who were working on the project will now be transferred to other areas of focus, specifically Apple’s generative artificial intelligence projects, as reported by Bloomberg.
The decision to terminate the project comes amidst a time of reflection for major car manufacturers on their investments in electric vehicles, while also facing closer scrutiny on autonomous vehicle ventures. The potential entrance of Apple into the automotive market was viewed as a potential boost to its financial performance, providing a new source of revenue to offset declining hardware sales and the mounting regulatory pressures on its services business. Despite these developments, Apple has declined to offer any official statement on the matter.
The initial stages of the “Project Titan” car project began for Apple back in 2014, but the company underwent numerous shifts in direction throughout the past decade. These shifts involved frequent changes in focus between creating a fully electric rival to Tesla or a self-driving vehicle more akin to Waymo’s creation. In January, Bloomberg released a report indicating that the project’s command was facing pressure from Apple’s senior management and board members to expedite the development process for a potential release in the near future.
As the story continues to unfold, we will keep you updated…
