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 mining machines, a concerned executive, and a legal gavel symbolizing fraud allegations

Bitcoin mining firm Mawson removes CEO following fraud accusations

July 23, 2025

Leadership Turmoil at Mawson Infrastructure Amid Legal Battles Nasdaq-listed Bitcoin mining company Mawson Infrastructure Group Inc. has removed its Chief...

Solana Surges as 21Shares Shifts Focus from Ethereum

July 22, 2025

Solana (SOL) has made a notable move in the market, climbing above $190 for the first time in five months...

Digital Cuts: Netflix Trims Budget with AI-Driven Scene in “The Eternaut”

July 21, 2025

In a recent Q2 2025 earnings call, Netflix disclosed that it employed artificial intelligence to generate a visual sequence in...

Bitcoin Fees Plunge, Making Transfers Cheaper Than Ever

July 20, 2025

In a major shift for the world’s leading cryptocurrency, Bitcoin’s minimum transaction fees have plummeted by a staggering 90%. Users...

David Schwartz Reveals Deepfake Video of Ripple CEO Used to Endorse Fraudulent XRP Incentives

July 18, 2025

The XRP community is facing a fresh wave of crypto scams, fueled by an AI-generated deepfake video featuring Ripple CEO...

News

Coins

TikTok Refutes Claims Its Owners Bought ‘Trump Coin’

June 20, 2025
Blockchain

XRP Poised for Record High Following NYSE Arca’s Approval of UXRP ETF, Says Analyst

July 15, 2025
Blockchain

Arkham Report Reveals BlackRock’s Ethereum Purchases Outpace Bitcoin by 5x

July 19, 2025
Coins

Pepe Coin Explained: From Meme to Market Mania

June 29, 2025
Asset 1CryptoNow
Categories
  • AI
  • Blockchain
  • Business
  • Coins
  • Finance
  • Interesting
  • Market
  • Mining
  • News
  • Regulation
  • Reviews
  • Technology
Tags
AI AI Browser Altcoin Android Apple Binance Binance Coin Bitcoin blockchain BTC Chainlink ChatGPT Circle Coinbase Coindesk crypto Cryptocurrency Crypto exchange DOGE Dogecoin ETF ETH Ethereum Google Halving Memecoin Meta Mining Mobile news OpenAI Pepecoin pi coin pi network RIOT Ripple Samsung SHIB Shiba Shibu Coin Solana Stablecoin technology TON XRP
  • Newsletter
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Market
  • Coins
  • News
  • Mining
  • Technology
  • Blockchain

CryptoNow.