CryptoNow
  • Home
  • Market
  • Technology
  • Business
  • Blockchain
  • Regulation
  • Reviews
No Result
View All Result
CryptoNow
  • Home
  • Market
  • Technology
  • Business
  • Blockchain
  • Regulation
  • Reviews
No Result
View All Result
CryptoNow
No Result
View All Result

The Apple Car is dead

March 5, 2024
in Business, News, Technology
A A
/ freepik

/ freepik

Dalintis FacebookDalintisShare on Twitter

Ten years, billions of dollars, multiple leadership changes, and dozens of rumors later, the Apple Car project is dead. A new report from Bloomberg’s Mark Gurman says that Apple has officially canceled the car, breaking the news to nearly 2,000 employees who had been working on it on Tuesday.

As part of the change, Apple will move “many employees working on the car” to the company’s artificial intelligence division where they will focus on generative AI projects, which Apple is expected to share more about later this year, according to a statement by CEO Tim Cook on the company’s earnings call earlier this month. But the car team also included hundreds of hardware engineers and car designers, some of who, Bloomberg reports, will be able to apply for jobs in other divisions of the company. The rest are likely to be laid off.

Apple has never spoken publicly about its efforts to build a vehicle, internally known as Project Titan. But a number of leaks over the years revealed the company’s ambitions to expand into a brand new product category it had no experience in. At the beginning of the project in 2014, Apple wanted to build fully self-driving car without pedals or a steering wheel with a remote command center ready to take over for a driver. But in recent years, Apple reportedly pared down its ambitions. As recently as last month, new reports suggested that Apple’s car, which could debut in 2028, would be an electric vehicle more akin to a Tesla than something completely new.

Project Titan also went through multiple leadership shakeups. In 2021, Apple appointed Kevin Lynch, the executive who previously oversaw Apple Watch development, to head the car division after Doug Field, Project Titan’s previous head, left for Ford.

Apple had reportedly considered pricing the car at around $100,000, in the ballpark of a high-end Tesla Model X. But Apple executives were reportedly concerned about profit margins at that price. The move is a rare setback for the company, which according to Bloomberg worked on “powertrains, self-driving hardware and software, car interiors and exteriors, and other key components” over the years.

Source: Engadget
Tags: Apple

Related

Bitcoin Plunge: Could BTC Dip Under $100K?

June 7, 2025

On June 5, Bitcoin (BTC) saw a sharp decline, dropping to $100,000 following the fallout between Elon Musk and Donald...

Shiba Inu Price Climbs 4% Amid Surging Transaction Volumes

June 7, 2025

Shiba Inu (SHIB) is seeing gains on June 7 as weekend volatility gives bulls an advantage. The ongoing rally could...

Pi Network Price Surge: Is a Big Jump Ahead of Pi Day?

June 7, 2025

The Pi Network price has been showing signs of potential growth ahead of Pi Day, which falls on June 28....

Crypto Confidence Soars as Circle Makes Historic Wall Street Entrance

June 6, 2025

Stablecoin issuer Circle Internet made a sensational entrance on the New York Stock Exchange Thursday, with its shares more than...

Solo Bitcoin Miner Successfully Mines Block 899,826, Securing $330K in Rewards

June 5, 2025

A solo Bitcoin miner pulled off an incredible feat by successfully mining block #899,826, earning a reward of approximately $330,386....

News

Reviews

What is Cryptocurrency? A straightforward explanation

May 11, 2025
Blockchain

Looking to invest in Cryptocurrency? Here is a Step-by-Step Approach

May 24, 2025
Coins

Pi Network Under Fire

May 22, 2025
AI

What is llms.txt?

May 27, 2025
Asset 1CryptoNow
Categories
  • AI
  • Blockchain
  • Business
  • Coins
  • Finance
  • Interesting
  • Market
  • Mining
  • News
  • Regulation
  • Reviews
  • Technology
Tags
AI Altcoin Android Binance Binance Coin Bitcoin blockchain BTC Chainlink ChatGPT Circle Coinbase Coindesk CoinGecko crypto Cryptocurrency Crypto exchange DOGE Dogecoin ETF ETH Ethereum Halving Hash rate Meta Mining Mobile news OpenAI pi coin pi network reviews RIOT Ripple Samsung SHIB Shiba Shiba Inu SOL Solana Stablecoin technology Telegram USA XRP
  • Newsletter
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Market
  • Coins
  • News
  • Mining
  • Technology
  • Blockchain

CryptoNow.