(RepublicanView.org) – Computer conglomerate Apple is reportedly canceling plans to develop an electric car.
The announcement comes after the company spent ten years and $10 billion on the project, dubbed “Project Titan.” They were hoping to develop a battery that would make electric vehicles much more affordable. They also wanted to expand the capabilities of software programs used in self-driving cars. Ultimately, some Apple executives apparently believed it would put them in a position to buy out Elon Musk’s Tesla.
Senior Apple Portfolio Manager Dan Morgan called the cancellation a relief. He believed it never stood a real chance at succeeding since it was just too far from the scope of Apple’s signature products.
Morgan wasn’t alone. Several Apple employees called Project Titan a “Titanic disaster” long before it was scrapped. The company still lagged far behind self-driving software at the project’s end. However, some companies, including Waymo (owned by Google’s parent company Alphabet) have successfully deployed entire fleets of self-driving taxis within that time. Investors were also relieved by the news.
Despite the relief of employees, the move is expected to impact Apple’s workforce. It hired over 2,000 people to work on the project. Some will be moved to other areas of Apple, while others will be laid off.
The electric vehicle market also appears to be in decline at the moment. EVs are taking longer to sell, causing them to crowd car lots. Some giant automakers have already scaled back production. Tax breaks, reduced prices, and legislation have not been enough to help the market recover.
Despite the decision to end the plan for electric cars, Apple is reportedly making significant strides in the realm of AI.
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