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Apple Is Ending Its Electric Car Project
February 27, 2024
Apple is reportedly winding down its electric car project, Special Projects Group, according to Bloomberg. This decision marks the end of Apple’s ambitious attempt to develop an electric vehicle to rival Tesla, indicating a shift away from automotive ventures toward its core business in electronics and online services.
Speculations about Apple’s foray into the automotive industry surfaced back in 2014, according to CNBC, when the company began hiring automotive engineers and talent from established car manufacturers. Despite keeping its plans under wraps, Apple conducted tests with autonomous vehicles equipped with sensors, navigating the roads of the San Francisco Bay Area under the supervision of safety drivers.
The evolution of Apple’s car project saw several internal reorganizations, including layoffs in 2019, where employees were reassigned within the company. According to sources cited by Bloomberg, some personnel from Apple’s car division may transition to roles within the generative artificial intelligence team.
This news comes about a month after Apple announced it was originally dialing back its electric car project to create a less ambitious design than originally planned.
While the closure of the Special Projects Group signifies the end of Apple’s direct involvement in electric car development, the company continues to explore automotive-related technologies. Among these endeavors is CarPlay, a software platform designed to integrate Apple’s iOS interface into car infotainment systems.
Following the announcement of the discontinuation of its electric car project, Apple’s stock experienced a modest 1% increase. However, the company has opted not to provide any official comment regarding this decision.
With the closure of the Special Projects Group, Apple’s focus seems to be realigning toward its core competencies in consumer electronics and digital services, leaving the future of its involvement in the automotive industry uncertain.
This also outlines a new outlook on the automotive electric car industry overall with more uncertainty as to the mainstream adoption of EVs. At the end of 2023, sales for electric cars slowed dramatically and car rental company Hertz began to sell its stock of rentable EVs.
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