Apple Scraps Secretive EV Project in Rare Move, Sending Billions of Dollars and 10 Years Down the Drain

Remember when Kevin Costner’s character in “Field of Dreams” hears a mysterious voice saying, “Build it, and he will come”? In the case of tech mega-giant Apple, it’s more like, “Build it, and watch it rot.”

Apple’s dream of building an electric car intended to rival Tesla’s EVs has ended, according to The New York Times. The company spent billions of dollars researching the project, dubbed “Titan,” over 10 years, the Times reported Tuesday. It looks like the money and the dream have been flushed down the drain.

It’s an unusual announcement for the computer giant, according to the Times.

“The cancellation is a rare move by Apple, which typically doesn’t shelve such public and high-profile projects,”  Times lead consumer 💻Technology reporter Brian X. Chen wrote.

In canceling one of its open-secret projects, Apple will move some of the employees to its artificial intelligence division, according to Bloomberg.

Chief Bloomberg correspondent Mark Gurman posted the news on the social media platform X:

“NEW: In abandoning a car, Apple is giving up on billions in potential revenue and the dream of selling what the guy who killed the project once called the ‘ultimate mobile device.’ Now, the spotlight turns to AI and mixed-reality, for better or worse.”