Apple Car: 2028-bound electric vehicle supposedly scrapped

Rumours about Apple's first-ever electric vehicle, called the Apple Car have been around since 2018. The Apple Car was slated to make a 2023 debut which eventually got pushed back to 2028. Bloomberg's Mark Gurman, a reliable source for Apple-related news, now says Apple has mothballed the project altogether.

Sources familiar with the matter told Gurman that Apple released an internal memo announcing the Apple Car's demise. Now that the cat is out of the bag, an official announcement should follow suit soon. This should sting, especially when competitors like Sony, Xiaomi and even Honor are showing off their self-driving vehicles.

The Apple Car team consisted of some 2,000 people, who will now work on improving generative AI. Gurman adds there could be internal reshuffles for some employees but doesn't rule out layoffs. This is disappointing given the recent spate of job cuts by Sony and other tech companies.

Apple was concerned the Apple Car wouldn't be "able to provide the profit margins that Apple typically enjoys on its products." It isn't surprising, given its rumoured $100,000 price tag puts it in the premium segment where it would compete against established players like the Porsche Taycan, Tesla Model X and BMW i7.