Apple Car | Everything we know about Apple's rumored electric car. Overview Updated October 17, 2016

Apple Car | Everything we know about Apple's rumored electric car.

Rumors of Apple’s electric car initiative began back in early 2015 when a report claimed Apple had been considering the effort for quite some time. Steve Jobs himself admitted to considering building a car in 2008, but put the plans on hold to focus on development of the iPhone.

Over the past year and a half, however, it’s become more clear that Apple is indeed working on a car of some sorts under the “Project Titan” moniker. Tesla CEO Elon Musk even stated that it’s an “open secret” Apple is building an electric car. At one point it was rumored that Apple was interested in purchasing Tesla, but that report was never confirmed.

Musk’s comments came following an intense poaching war between Apple and Tesla, with both companies poaching employees from the other. Musk, however, referred to Apple as the “Tesla graveyard.” 

In addition to hiring employees from Tesla, Apple has also hired employees and executives from Fiat, Mercedes, Ford, and more. The head of Mercedes-Benz, however, doesn’t seem too worried about Apple’s car plans, likening the idea to a car manufacturer building a smartphone.

We detailed the start of Apple’s Project Titan team at the link below. The team is now said to consist of around 600 people.

Apple is believed to be operating Project Titan under a shell company called SixtyEight Research in Sunnyvale California. Apple has purchased a variety of real estate property in the area, much of which fits the bill for building a car.

Apple was initially reportedly aiming to release its own electric car by 2020, but a more recent report claims that the launch date has been pushed into 2021. The date could potentially have been affected by the departure of Steve Zadesky who was leading the project.

Not much is known about the design of the Apple Car, though a variety of renders have emerged, all of which are purely imaginative and based on nothing but speculation. The car is said to be electric, though its autonomous capabilities are unclear at this point.

As we inch closer to the reported 2021 release, we should expect for more details concerning the Apple Car to emerge.

75 Apple Car | Everything we know about Apple's rumored electric car. stories

February 2015 - October 2016

Apple Car Stories October 17

AAPL: 117.55

Stock Chart

Apple has reportedly changed its near-term plans for the Project Titan electric car project, moving away from the development of a vehicle for the time being. After Bob Mansfield took the helm in July, Apple changed its outlook for the team according to Bloomberg.

Hundreds of employees have been let go or re-assigned with the remaining members focusing on development of a self-driving autonomous car platform. In the future, Apple may return to developing its own vehicle or could partner with an existing car manufacturer. Apparently, executives have set a late 2017 deadline for the team to “prove the feasibility” of the autonomous driving system. Reports about the project shifting gears towards the software stack first surfaced in July.

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Apple Car Stories September 21

AAPL: 113.55

Stock Chart

Update: McLaren has issued a statement in response, rejecting the report and denying any discussions with Apple about a potential investment. A separate report from the New York Times also indicates Apple is in talks to acquire Lit Motors, a startup working on a self-balancing motorcycle.

The Financial Times is reporting that Apple is in talks to acquire McLaren, a supercar manufacturer to aids its own automobile efforts for the long-rumored Apple Car. The report says Apple is considering a full takeover acquisition of McLaren with talks spanning several months.

In McLaren, Apple may be interested in expertise and talent relating to car materials and “on-board computer systems”. The FT says an acquisition would be valued around a $1.5 billion dollars; McLaren currently records yearly losses.

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Apple Car Stories September 9

AAPL: 103.13

Stock Chart

Apple’s car plans appear to have hit yet another snag. Tonight the NYTimes is reporting that Apple is again rebooting the now infamous car project.

In a retrenchment of one of its most ambitious initiatives, Apple has shuttered parts of its self-driving car project and laid off dozens of employees, according to three people briefed on the move who were not allowed to speak about it publicly.

2016 has been an abysmal year for Apple’s car project if you believe the various reports from top news agencies. A timeline of Apple Car developments this year: expand full story


Apple Car Stories August 20

AAPL: 109.36

Stock Chart

While Apple made a $1 billion investment in Chinese ride-hailing service Didi Chuxing earlier this year, it apparently also held talks with Lyft, another popular car request service, regarding an acquisition. According to a report from the New York Times, Lyft has recently held discussions with handful of companies to discuss a possible acquisition, with Apple being one of them.

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Apple Car Stories August 9

AAPL: 108.81

Stock Chart

Apple Car Stories July 28

AAPL: 104.34

Stock Chart

Following a report from earlier this week detailing Apple’s appointment of former executive Bob Mansfield to run its secretive ‘Project Titan’ Apple Car project, Bloomberg offers details on hires from BlackBerry and Ford.

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