Apple ends self-driving car project after a decade of development

Creating an entirely new car is never an easy task, even for a tech giant like Apple. After a decade-long effort, CEO Tim Cook’s company has decided to end the self-driving electric car project Titan.

Although Apple has never publicly announced its car project, multiple reports indicate that the tech giant began researching self-driving cars in 2014. The technology company nurtured ambitions to create a fully self-driving car that could be voice-controlled and would have a design that would reflect Apple’s aesthetic.

After spending billions of dollars and ten years without any specific results, Apple Car faced the choice of either accelerating the car’s launch or completely canceling the plan. Ultimately, the leadership team decided to shut down the project.

According to Bloomberg, the Apple Car development team consists of around 2,000 people, and they will be reassigned to other departments for new roles. However, some people will have to leave their jobs because the company no longer has suitable positions for them.

The decision to stop Apple’s electric car project comes at a time when the electric car market is showing signs of decline, as well as prolonged inflation that leads to high interest rates and people tightening their belts. Additionally, a number of recent serious accidents have eroded public trust in self-driving cars.

Investors also support Apple’s abandonment of this costly plan, as evidenced by Apple’s stock price rising 0.5% after Bloomberg’s report was published.

Thái Sơn (Tuoitrethudo)

Source: Carscoops