Apple Inc. reportedly invested approximately ~$1 billion annually into the development of its Apple Car project before ultimately discontinuing it last month. According to Bloomberg and insider accounts, the project's failure was attributed to the highest levels of management's inability to commit to a singular vision and overcome technical challenges, which doomed the project. The ambitious automotive effort, which traces its origins back to Steve Jobs, spanned over a decade and aimed to revolutionize the car industry with innovative features and design. Despite the substantial investment and years of development, the project was plagued by indecision, leading to its eventual cancellation.
Apple Car's Decade-Long Development and 'Failure' Detailed in New Report https://t.co/D30mfIahXH https://t.co/LSjKR53pBJ
Apple $AAPL was spending ~$1 Billion each year on its Apple Car program before scrapping the car last month - Bloomberg https://t.co/XCymbNyWxi
NEW: Apple sunk billions into its failed car effort. Insiders say an inability at the highest levels to settle on one thing and do it doomed the project https://t.co/slvIQsHBlQ
NEW: How Apple Sank About $1B a Year Into a Car It Never Built - The inside story of the Apple Car, from what it looked like, to its features, to the indecision and technical challenges that brought it down and how it traces all the way back to Steve Jobs. https://t.co/Xyqb91EiHn
NEW: How Apple Sank About $1 Billion a Year Into a Car It Never Built - The inside story of the Apple Car, from what it looked like, to its features, to the indecision and technical challenges that brought it down and how it traces all the way back to Steve Jobs.…