Billionaire Elon Musk on Wednesday reacted in his own trademark style after Apple Inc. scrapped a decadelong effort to build an electric car, abandoning one of the most ambitious projects in the history of the company.
In a post on X (formerly Twitter), Musk didn’t write a single word but rather posted only two emojis after receiving the information. “🫡 🚬” the Tesla CEO reacted on the microblogging site.
The move is surprising because it marks the end of Project Titan — one of the most significant and ambitious projects in the company’s history, Bloomberg reported.
The decision was internally disclosed by Chief Operating Officer Jeff Williams and Vice President Kevin Lynch on February 27, leaving nearly 2,000 project employees stunned.
“If it is true, Apple will put more focus on GenAI and that should give investors more optimism about the company’s efforts and ability to compete at a platform level on AI,” said Ben Bajarin, chief executive of consulting firm Creative Strategies as quoted by Reuters.
Many car team employees, known as the Special Projects Group (SPG), will transition to the artificial intelligence division under executive John Giannandrea, focusing on generative AI projects.
While several hundred hardware engineers and vehicle designers on the Apple car team may have the opportunity to apply for positions in other Apple teams, the exact number of layoffs remains unclear.
Apple has so far held back from any big moves in AI, in stark contrast to other tech giants such as Alphabet and Microsoft, which have first-mover advantage in incorporating the breakthrough technology.
The design of the concept car also changed, from a radical, steering-wheel-free autonomous vehicle that would have been a departure from traditional automotive design, to a more conventional car with advanced driver-assistance features.
(With inputs from agencies)
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
