Apple Bails Out of Electric Car Plans

Posted on February 29, 2024

Apple has reportedly decided not to making an electric car. The decision comes despite a rumored $billion+ project called Project Titan.

Bloomberg and Reuters report a complete halt on Project Titan - see Techmeme. Some employees working on the project are reportedly being shifted to AI projects.

Apple's sudden termination of Project Titan was shocking to the auto and tech worlds. Axios sums it up nicely, writing, "It's an abrupt, substantial shift for the company, as the multibillion-dollar, decade-long project would have led the company into an entirely new market, and it would have marked a new entrant in the auto space."

One of the major hurdles to an electric car is the lack of really great battery power in a small configuration. Drivers have to recharge their EV batteries fairly frequently. This winter there were also issues with electric car batteries that wouldn't charge at all in the extreme cold. Improvements in car batteries could fix the issue. We have already seen a big step-up just going from lithium-ion to lithium phosphate batteries.

Growth is still expected in EVs despite Apple's withdrawal. A Statista report sees steady growth of near 10% through 2028. The report has EV sales reaching over 17 million vehicle unit worldwide by 2028.

Things change and if there is a technology breakthrough maybe Apple will return to build Project Titan. Business Insider reports on a few other devices Apple killed and then went on to launch them anyway.

Reuters reports that a concept vehicle had been expected as early as next year before Apple axed its plans. Apple has not been talking to the media about the terminated project.

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