Apple has decided to halt its ambitious plans for an autonomous electric car, officially known as “Project Titan.”
Executives, including Apple’s COO Jeff Williams and Titan’s VP Kevin Lynch, made the announcement during a brief meeting.
The decision involves a significant downsizing, with hundreds of employees set to be cut from the project.
Those who remain might be redirected to Apple’s generative AI projects.
However, others have a 90-day window to secure new roles or face termination.
Project Titan, initiated in 2014, once boasted a team of around 1,400 employees before its abrupt cancellation.
Apple’s foray into the automotive sector aimed to diversify revenue streams amid challenges in hardware sales and increasing regulatory pressures.
The project underwent multiple transformations, wavering between an all-electric Tesla competitor and a fully autonomous vehicle.
The latest decision aligns with a broader trend of major automakers reconsidering investments in electric vehicles amid heightened scrutiny on autonomous vehicle projects.
Apple remained tight-lipped about the reasons behind the cancellation.
The meeting, where the news was disclosed, did not allow for questions from attendees.
Over the years, Project Titan witnessed leadership changes, attracting high-profile executives from companies like Tesla, Lamborghini, Ford, and BMW. In 2021, Apple brought Ulrich Kranz on board from BMW and explored collaborations with companies such as Canoo, Hyundai, and Kia for manufacturing, intellectual property, and talent.
