An Apple electric car, have you dreamed of it? The company definitely throws in the towel, and billions of dollars

After losing ten years and ten billion dollars, the American giant Apple has put an end to its electric car idea. Project Titan will therefore never see the light of day.

While rumors in the corridors have recently suggested a possible marketing of the Apple Car by 2028, the Cupertino company has apparently put an end to the adventure of the electric car. Imagined around the year 2015, the concept took the name “Project Titan” and was never really a top priority for the Apple brand. Several very serious media outlets across the Atlantic are saying that the Apple Car is over. But why and with what consequences?

Apple almost secretly dreamed of itself as a competitor to Tesla

Apple had already lowered its ambitions for its vehicle, moving from a completely autonomous electric car to a car with relative autonomy, as we can see on the market today, with the Tesla for example. . On Tuesday, company officials announced the news of the work stoppage to several employees.

And this will not be without consequences. Nearly 2,000 employees worked on the Apple Car, so naturally, many fear losing their jobs. The American company tried to be reassuring, explaining that a large part of the employees working on the vehicle would be transferred to its AI (artificial intelligence) division.

At this point, Apple thinks it’s a blessing in disguise. The company will seriously strengthen the work around GenAI, which could also reassure its investors, who were beginning to doubt the company’s abilities to fight against certain giants in the sector, including OpenAI, Microsoft or even Amazon.

Apple wasted time, and a lot of money

Within the iPhone brand, what memory will remain of the Apple Car? Obviously, certain figures are striking. Apple would have lost, in ten years of development, around ten billion dollars trying to develop an autonomous electronic car. And if officially, the company had never communicated about the vehicle, certain managers, like Tim Cook, had alluded to the project.

If it had come to an end, Apple would have considered offering its vehicle around $100,000, which is more or less the price of the Tesla Model X today.

This decision to stop gives rise to a feeling of waste, obviously financial, but also of innovation, as the world would undoubtedly have been curious to see even just a concept of the Apple Car. But economic reality seems to have caught up with the giant, as powerful as it may be.

Sources: Bloomberg, Reuters