April 13, 2024
Apple Pulls Plug on Electric Car [Report]

Apple Pulls Plug on Electric Car [Report]

Posted February 27, 2024 at 7:36pm by iClarified
Apple has pulled the plug on its decade-long effort to build an electric car, according to Bloomberg.

The decision was announced internally on Tuesday by Chief Operating Officer Jeff Williams and Kevin Lynch, the VP in charge of the effort. It reportedly came as a surprise to the nearly 2000 employees working on the project.

The two executives told staffers that the project will begin winding down and that many employees on the team working on the car — known as the Special Projects Group, or SPG — will be shifted to the artificial intelligence division under executive John Giannandrea. Those employees will focus on generative AI projects, an increasingly key priority for the company.


Several hundred hardware engineers and car designers were also working on the project. It's likely there will be layoffs; however, some employees may be able to apply for jobs on other Apple teams.

Apple's decision is a major bombshell. It has spent billions on the effort that was expected to launch the company into a whole new industry. However, Apple had recently reached a make or break point with the endeavour, needing to decide if it should scale down ambitions from a Level 4 to a Level 2+ vehicle. It purportedly discussed a 2028 launch date and $100,000 price tag; however, concerns over profit potential and millions of dollars a year in R&D appear to have resulted in today's decision.

Are you sad to see this project abandoned? Would Apple have made a great electric car? Let us know your thoughts in the comments!


Apple Pulls Plug on Electric Car [Report]
[Concept]


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Comments (3)
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McApple1
McApple1 - February 28, 2024 at 9:30pm
No doubt it would’ve been as pricey as a new Lamborghini for the starting price, but I still prefer it over a Tesla because of Elon Muks.
Brand0
Brand0 - February 28, 2024 at 2:50am
Everyone and their grandmother is going to make electric cars and the competition will be intense and margins will be thin. Apple is a first mover company and it’s going to be too crowded.
onereader
onereader - February 27, 2024 at 9:08pm
If people are going to get locked again in their houses, cars are not interesting. But, Ai will be present everywhere no matter if at home or traveling. They know where the future is.
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