The widely speculated Apple Car, an ambitious project to develop the tech giant’s first electric vehicle, has seemingly come to an abrupt halt. According to insider sources, Apple has decided to discontinue its electric vehicle project altogether. Speculation about the Apple Car has been circulating for years, with initial predictions suggesting a launch by 2023, which was later deferred to 2028.
It has been reported that an internal memo has circulated within Apple, proclaiming the end of the Apple Car initiative, and an official announcement is anticipated to follow. This news emerges amid the industry’s bustling activity, with tech conglomerates like Sony and Xiaomi displaying advancements in autonomous and electric vehicles, signaling a competitive edge in the automotive tech sphere.
The electric vehicle project at Apple had assembled a significant team of roughly 2,000 individuals. The change in direction will now shift their focus to enhancing generative AI technologies, which could entail internal job reassignments and potentially lead to layoffs, although Apple has not confirmed any such decisions.
The decision against proceeding with the electric car project is attributed to financial concerns, with the anticipation that the vehicle may not align with Apple’s standard profit margins. Considering the speculated $100,000 price point of the electric vehicle, it would have competed in the premium market segment alongside established luxury automobiles like the Porsche Taycan, Tesla Model X, and BMW i7.
While this news may be a setback for those eagerly awaiting the entry of the tech behemoth into the automotive arena, Apple’s pivot towards generative AI could indicate a shift in strategy, focusing on a domain rich with potential for innovation and growth.
