Apple Targets 2024 for Passenger Vehicle Production: Report

The Cupertino giant also recently purchased autonomous vehicle startup Drive.ai for an undisclosed amount.

Published
Tech and Auto
1 min read
Apple Car Launch Update: The Cupertino giant also recently purchased autonomous vehicle startup Drive.ai for an undisclosed amount, according to reports.
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Apple is moving forward with self-serving car technology, targeting 2024 to produce a passenger vehicle which will host its own battery technology, reported Reuters quoting sources.

The passenger vehicle project, known as Project Titan, focuses on a new battery design which could “radically” reduce the cost of batteries and increase the vehicles range.

Earlier this year, Apple fired over 200 employees from its Project Titan team, terming it "restructuring."

The Cupertino giant also recently purchased autonomous vehicle startup Drive.ai for an undisclosed amount, according to reports.

The start-up had raised $77m in venture capital, with its latest round in 2017 valuing it at $200m.

Drive.ai was founded in 2015 by machine learning researchers from Stanford University and had been running a ride-hailing service with its autonomous shuttles in Texas, The Verge reported late on Tuesday.

It was rumoured that the California-based startup in Mountain View was going to shut shop and lay off its employees, however, Apple’s takeover put a lid on them.

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