Tech giant Apple has terminated "Project Titan," its initiative aimed at creating an autonomous EV, leading to the cessation of all development work and potential layoffs of “hundreds of” employees involved in the project (i.e. ~1,400 staff).

Despite the earlier reports about Apple intensifying its autonomous vehicle testing, it will now reallocate resources from the car project to its GenAI initiatives. Some of the project's remaining staff may also transition to Apple's GenAI-related projects, while others can look for new roles within the company or face termination.

Analyst QuickTake: Today’s news comes when leading car manufacturers and tech suppliers are reassessing their commitments to autonomous vehicles (e.g., General Motors, Aptiv, Ford, and Volkswagen) and increasing scrutiny of the same. The project, which began in 2014, also faced multiple changes in direction over the years, oscillating between focusing on competing directly with EV market leaders like Tesla (EVs with automated driving features) and developing a fully autonomous vehicle similar to those produced by Waymo. Apple's explorations included negotiations with several potential manufacturing partners and acquisitions to bolster the project's capabilities, highlighting the company's serious but ultimately unfruitful commitment to entering the automotive sector.