According to a newspaper report, Apple spent more than 10 billion dollars (9.25 billion euros) on its ultimately abandoned car plans. The New York Times announced the amount on Wednesday, citing several people familiar with the project.
According to media reports, the American iPhone company informed the affected employees on Tuesday about the discontinuation of the project. According to this information, Apple recently wanted to launch an electric car with driver assistance functions, but has buried this plan again.
It had been in the works for 10 years
The group started development about ten years ago and also worked on software for autonomous driving. According to reports, programmers of the car project should instead develop software with artificial intelligence. CEO Tim Cook announced new Apple AI features during the online general meeting on Wednesday. Traditionally, the WWDC developer conference in June previews software innovations for Apple devices.
There have been many rumors about Apple’s car project over the years. The group reportedly showed the first prototypes to potential partners from the automotive industry years ago, but according to media reports it temporarily decided to focus on autonomous driving software. The only thing that was definitively known was that until recently Apple sent test cars converted into self-driving vehicles onto the streets of Silicon Valley.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
