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Business News/ Auto News / Apple's purported electric car, Project Titan, hits a roadblock: Report
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Apple's purported electric car, Project Titan, hits a roadblock: Report

Apple's Project Titan, a decade-long venture into electric cars, is reportedly halted after a $10 billion investment. Challenges include economic downturn, cost concerns, and the complexity of innovative features.

For representation purposes onlyPremium
For representation purposes only

In a surprising turn of events, Apple's much-anticipated Project Titan, a secretive venture into the realm of electric vehicles, has reportedly been halted. While the tech giant has neither confirmed nor denied the project's suspension, media reports suggest that Apple has invested over $10 billion in the endeavor.

Project Titan, which reportedly spanned over a decade, initially aimed to rival Tesla's dominance in the electric vehicle market. There were even speculations about Apple considering the acquisition of Tesla, engaging in talks with the maverick entrepreneur Elon Musk. The project later shifted gears to explore self-driving car technology, only to revert to its original focus on developing an electric vehicle. Despite hiring top talent from renowned organizations like Porsche and NASA, Project Titan faced numerous obstacles.

The New York Times reported that around 2,000 individuals were involved in the project when Apple allegedly decided to abandon plans for a vehicle. The challenging global economic situation, marked by a decline in demand for electric vehicles, is speculated to be a significant factor behind the decision. With major players like Tesla, Renault, and Volkswagen prioritizing more affordable electric vehicles, the high cost associated with an Apple car—estimated to be above $100,000—may have been a critical consideration.

As per the foreign publication, the burden of introducing groundbreaking features also posed challenges for Apple. Reports suggest that the company was working on innovative elements, such as a sunroof designed to minimize heat from the sun and a windshield displaying directions. The pursuit of unique features contributed to the complexity of the project and may have influenced the decision to put it on hold.

Amid these developments, Apple's focus on integrating CarPlay systems into a wide range of vehicles continues. However, the cutting-edge technology being developed for Project Titan remains uncertain in terms of its future applications. 

 

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Published: 01 Mar 2024, 12:35 PM IST
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