Apple's ambitious venture into the automotive industry, involving a self-driving car project, has come to an end without fruition. The tech giant explored various concepts for the vehicle, including designs resembling a bread loaf and a pod, and even considered significant acquisitions to bolster its efforts. Among the ideas was the potential purchase of Tesla when its valuation was below $30 billion, a proposal that was ultimately dismissed by CEO Tim Cook. Despite engaging in discussions with Tesla's Elon Musk, the talks did not advance. Apple's project, which had internally nicknamed its electric vehicle (EV) 'The Bread,' involved plans to market a 4-passenger EV at $85,000, though production costs were estimated at around $120,000. Over the years, Apple invested approximately $10 billion into the project, exploring partnerships with various automakers, but the initiative was officially terminated last month. The closure of this venture, into which Apple sank about $1 billion a year, raises questions about Apple's next steps to address its growth challenges.
Reporter Mark Gurman is answering your questions about Apple’s failed car effort live on March 11, at 2pm ET. Reply with your questions or send them to [email protected] ⤵️ https://t.co/R9nFl0AZD9
Tesla is doing what Apple couldn’t https://t.co/GY38nBwk6j
How $AAPL Sank About $1 Billion a Year Into a Car It Never Built $tsla https://t.co/AGztFwrYsm
“Apple had wanted to charge $85,000 for its car, but internal estimates put the cost of production at about $120,000” — Auto News
Apple discussed partnerships with various automakers before ending its self-driving car program last month. https://t.co/JMZbQ5KtsC
Reporter Mark Gurman is answering your questions about Apple’s failed car effort live on March 11, at 2pm ET. Reply with your questions or send them to [email protected] ⤵️ https://t.co/xTm2o5eyOP
Reporter Mark Gurman is answering your questions about Apple’s failed car effort live on March 11, at 2pm ET. Reply to this post with your questions or send them to [email protected] ⤵️ https://t.co/YAyrSfsbzt
Now that the autonomous car project is over, what does Apple plan to do about its growth problem? https://t.co/T1DbT36d7R By @mvpeers
I’m hosting a live Q&A about Apple's failed electric car effort—and what's next—on Monday, March 11, at 2 pm ET. Send your questions to [email protected]. https://t.co/kMxzPdrdA1
Apple blew $10 billion on failed car project, considered buying Tesla https://t.co/zGkeUVHMat
Automotive News is reporting that Apple considered buying $TSLA when it was trading below a $30B valuation, but Tim Cook killed the idea… and later discussions with @elonmusk “didn’t progress”. Apple had wanted to price their 4-passenger EV, internally nicknamed “The Bread… https://t.co/oDm5J5ROYM
Apple tested the idea of a self-driving car shaped like a bread loaf, and later a pod. It also toyed with the idea of acquiring Tesla. Or enticing Jony Ive with a McLaren project. In the end Apple couldn't seem to decide, according to insiders. https://t.co/fOfcaRfpbp @BW https://t.co/Ne6UvQQlxu