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Apple ditching EVs, driving away from multibillion-dollar project to build electric cars
28 February 2024
US media reported earlier this week that technology giant Apple is allegedly cancelling its electric car project, which has been in the works for roughly one decade
An electric vehicle (EV) charges. US-based company Apple announced it is scrapping its multibillion-dollar EV project after nearly 10 years. (Image: Adobe Stock)
Bloomberg reported the company made the announcement internally on Tuesday, February 27, and stated it was a surprise for roughly 2,000 employees working on the project – a secretive scheme codenamed ‘Titan’ – which started in 2014.
News outlets estimated that Apple spent billions on Titan, looking to develop an electrified and semi-autonomous vehicle.
As recently as July 22, 2023, outlets reported executive hires for the division. Luigi Taraborrelli was named to the Apple team that month; he was previously a car-development manager for Lamborghini.
Earlier this year, another report from Bloomberg suggested the company was lowering its ambitions for an Apple EV, and noted the company was pushing back its release date from 2026 to 2028.
It appears, now, the enigmatic division will fall short of that deadline, too.
Apple did not publicly comment on the reports but delivered its annual financial results on February 28.
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