(BrightPress.org) – Apple has been secretly working on an electric vehicle with autonomous driving abilities for a decade but has now decided to abandon the project. Billions of dollars have been invested into the project known internally as Project Titan. The decision comes after a global decline in the demand for electric vehicles. A Reuters report in 2020 claimed that Apple had hoped to release the electric vehicle as soon as 2024 or 2025.
Engineers have been testing the Apple vehicle on public roads for many years. One concept for the vehicle was non-traditional in that it did not have a steering wheel or pedals, but the existing technology was not ready for this approach. The later design looked more like a conventional car, but with “advanced driver-assisted features.” Apple never publicly confirmed its intent to develop an electric car, but Apple CEO, Tim Cook hinted at the possibility. According to analysts the expected purchase price of the vehicle would have been around $100,000, which is similar in cost to rival Tesla’s models.
Employees were informed about the project being canceled during a meeting on Tuesday. More than 2,000 employees will be either laid off or reassigned to work in Apple’s artificial intelligence division including an executive involved in the project, Kevin Lynch. Lynch will now be reporting to John Giannandrea – Apple’s head of artificial intelligence strategy.
Apple is breaking tradition by shelving Project Titan as the company typically follows through with high-profile projects. Apple is feeling the effects of the current economic instability and is struggling with innovation. Consumers are currently spending less money on “expensive gadgets”. For example, the iPhone has saturated the market and consumers are upgrading less frequently.
Releasing a successful electric car would, no doubt, have been a large boost to Cook’s legacy, but the Apple Watch holds the lead in the smart-watch market and the company released a virtual headset this month. Vision Pro goggles retail at around $3500.
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