(Image source: 9to5 Mac)
Word on the street is that Apple has decided to cancel Project Titan, its electric car project.
According to reports, the news was delivered by Apple's Chief Operating Officer Jeff Williams, and it came as a surprise. Apple has been working on Project Titan for over a decade and has spent untold millions of dollars.
Reports say that many people who were working on Project Titan will be transferred to Apple's AI division to work under Apple's AI chief John Giannandrea. That said, there will be some layoffs.
It's unclear at this point what caused Apple to give up on this project. Seeing that many who were working on Project Titan will be moved to Apple's AI division, a possibility would be that Apple has decided it's better to focus and double down on AI.
Another possibility would be the uncertain future of EVs and autonomous cars. There's increasing chatter inside the industry that EVs might not be the panacea that some hoped they would be.
Even though many automakers have invested heavily in EVs and said that they would stop producing ICE cars (mostly in response to EU regulations), some (Toyota, in particular) are still holding out. Furthermore, there's promise shown in alternative technologies such as synthetic fuels and hydrogen fuel cells.
Source: Bloomberg
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