In a move that has sent shockwaves through the tech and automotive industries, Apple has officially canceled its electric car project, known as Project Titan. This decision, announced in a brief meeting with the project team, marks the end of a secretive and tumultuous journey for the tech giant in the automotive space.
Project Titan was Apple’s ambitious attempt to break into the electric vehicle market, a project that began in 2014 and at its peak, employed around 5,000 workers. Over the years, the project’s direction shifted multiple times, from an all-electric Tesla competitor to a fully autonomous vehicle akin to Waymo’s creations. Despite these efforts, the project faced numerous challenges, including leadership changes and internal strife.
The announcement, delivered by Apple’s COO Jeff Williams and VP Kevin Lynch, was succinct and reportedly came as a surprise to the nearly 2,000 employees still working on the project. The meeting, which lasted only about 12 minutes, did not allow for questions, leaving many to speculate about the reasons behind the abrupt termination.
The cancellation of Project Titan comes amidst a broader reevaluation of electric vehicle investments by major automakers and increased scrutiny of autonomous vehicle projects. For Apple, the car project was seen as a potential new revenue stream to bolster against stagnating hardware sales and regulatory threats to its services business. However, concerns about the project’s viability and profitability led to its demise.
As a result of the project’s cancellation, hundreds of employees are expected to be cut from the team. Some will be reassigned to Apple’s generative AI projects, while others have been given 90 days to find new roles within the company or face termination. The fate of the hardware engineers and car designers who were part of the team remains uncertain, with layoffs anticipated.
While the electric car project has been shelved, Apple continues to invest in other areas of expansion, including mixed reality, wearables, and generative AI. The tech giant’s next steps in these fields are eagerly awaited as it pivots away from its automotive ambitions.
The termination of Project Titan is a significant moment for Apple, signaling a retreat from one of its most audacious ventures. As the company redirects its focus, the industry will be watching to see how Apple’s innovative spirit will manifest in its other projects.
Related posts:
Apple cancels its autonomous electric car project and is laying off some workers
Apple Cancels Electric Car Project
After a decade of stops and starts, Apple kills its electric car project
