Apple Is Canceling Electric Car Project

Mark Gurman, reporting for Bloomberg:

Apple Inc. is canceling a decadelong effort to build an electric car, according to people with knowledge of the matter, abandoning one of the most ambitious projects in the history of the company.

Apple made the disclosure internally Tuesday, surprising the nearly 2,000 employees working on the project, said the people, who asked not to be identified because the announcement wasn’t public. The decision was shared by Chief Operating Officer Jeff Williams and Kevin Lynch, a vice president in charge of the effort, according to the people.

The two executives told staffers that the project will begin winding down and that many employees on the car team — known as the Special Projects Group, or SPG — will be shifted to the artificial intelligence division under executive John Giannandrea. Those employees will focus on generative AI projects, an increasingly key priority for the company.

Kevin Lynch took over leadership of Project Titan back in September 2021, but remained in charge of Apple Watch, too. In hindsight that makes me wonder if Lynch’s mission wasn’t to ship a car, but more to assess what technologies the group had created could be used to create other products. Whatever progress Apple has made with “autonomy” ought to be applicable to robots, for example. Making intelligent robots feels more like something Apple should be doing than making cars.

The move came as a relief to investors, who sent Apple shares climbing Tuesday after Bloomberg reported the news. The stock was up about 1% at $182.63 by the close in New York.

Or, maybe, investors didn’t care at all, and popular stocks typically move up or down by a percentage point or so every single day. But Bloomberg is going to Bloomberg.

Tuesday, 27 February 2024