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APPLE TO PRODUCE CARS IN 2024 USING ADVANCED BATTERY TECH

Apple Inc. is moving forward with self-driving car technology and is targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology, people familiar with the matter told Stephen Nellis, Norihiko Shirouzu, and Paul Lienert of Reuters.

The iPhone maker’s automotive efforts, known as Project Titan, have proceeded unevenly since 2014 when it first started to design its own vehicle from scratch.


At one point, Apple drew back the effort to focus on software and reassessed its goals.


Doug Field, an Apple veteran who had worked at Tesla Inc., returned to oversee the project in 2018 and laid off 190 people from the team in 2019.


Since then, Apple has progressed enough that it now aims to build a vehicle for consumers, two people familiar with the effort said, asking not to be named because Apple’s plans are not public.


Apple’s goal of building a personal vehicle for the mass market contrasts with rivals such as Alphabet Inc.’s Waymo, which has built robo-taxis to carry passengers for a driverless ride-hailing service.


Central to Apple’s strategy is a new battery design that could “radically” reduce the cost of batteries and increase the vehicle’s range, according to a third person who has seen Apple’s battery design.


Apple declined to comment on its plans or future products. Making a vehicle represents a supply chain challenge even for Apple, a company with deep pockets that makes hundreds of millions of electronics products each year with parts from around the world, but has never made a car.


It took Elon Musk’s Tesla 17 years before it finally turned a sustained profit-making cars.



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