More bad news for electric vehicles. Apple has reportedly ditched its plans to build an electric vehicle and Audi has said they will ditch plans to only make EVs by 2026.
According to the Wall Street Journal, Apple just couldn’t quite make the self-driving bit work and they could not sell any car they could make for less than $100,000. They also could not afford another dud product like the VisionPro VR headset. But also, the market for EVs is just not hot.
Apple’s car project was called Project Titan, an apt name for how ambitious it was in the first place. They have reportedly re-positioned or laid off engineers on that team.
Audi’s re-commitment to gas-powered cars follows similar moves from Ford, GM, Volvo, and BMW. All of them have said that they will reduce EV production targets to avoid further loss. According to one industry outlet, “Ford, for example, reported a loss of $4.5 billion from the Model e division last year alone. This is equivalent to approximately 60 thousand dollars per electric vehicle sold.”
