According to a Reuters report, Apple is planning to launch an EV by 2024

Apple Electric Car is one of the most talked-about subjects in the automotive industry. According to a new report in Reuters, the tech giant is going back to the drawing board with an aim to debut an EV by 2024. The ambitious plan is named Project Titan, a reference to the powerful gods in Greek mythology. People had predicted the demise of the project when Apple reduced the team size by 200 employees. Now, it has unveiled plans to launch an EV in the market by 2024, some might say a tall claim, but we cannot really underestimate the technology behemoth in any sense. Apple sees an opportunity in the EV segment where Tesla is running away with success. Plus, luxury automakers like Porsche, Audi, Mercedes-Benz, and Jaguar are ramping up EV production.

The rumor began from a report published in the Taiwanese newspaper Economic Daily Times. The report stated that Apple is beginning to source automotive components from vendors in Taiwan. This is being done quietly indicating the tech giant is serious about its EV plans and is doing it quite stealthy. The Reuters report further says that Apple’s upcoming EV would be as radical as the iPhone was to the smartphone industry. The brand aims to reduce the cost of the battery while increasing the vehicle range too. This is a bold claim, but we cannot really underestimate Apple’s resources in terms of technology and money.

The report also adds that Apple is focused on making a consumer specific personal car. It would be quite different from what Google is trying to achieve with a Robo-taxi named Waymo. Project Titan failed to achieve the desired success when it commenced in 2014. Apple sourced top talent from the automobile and tech sectors with an aim to launch an EV by the 2019 calendar year. It did not materialize as issues like increasing costs, undefined business strategy and internal confusions cropped up. Now, the brand might be looking to tie-up with an outside manufacturer while it handles the technical aspects. This would be quite good in a way considering Apple is good with technology as its CarPlay product has been a roaring success in the automotive industry. 

Apple is currently looking at the possibility of using chemistry for the battery named LFP, or lithium iron phosphate. A person working with the project divulged in a conversation with the Reuters. The reason behind using this battery is that it does not get heated and is safer in comparison to the current Li-ion batteries. News regarding Apple’s car announcement must be treated with skepticism, but it would be quite interesting to see the brand bring its much-vaunted technology to the automotive industry. 

Source: Reuters

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