Apple’s on-again, off-again project to build and sell its own line of cars is on, Reuters reports. The technology company plans to offer an Apple-branded car for sale by 2024. Apple also promises new battery technology to differentiate the vehicle from competitors.
Project Titan, as Apple calls the effort, has been around in various forms since at least 2014. Tesla veteran Doug Field heads the project. It was last in the news in 2019 when the project laid off 190 people. But it isn’t over. Two unnamed sources within the company tell Reuters that Project Titan hopes to offer a personal vehicle, not a driverless car.
Like all other Apple products, the car will run on electricity. Apple is working on a lithium iron phosphate “monocell” battery, sources say. It may be solid-state storage which would pack more energy storage in the same space as today’s lithium-ion batteries. No details on the possible range or weight of the battery were revealed.
Most automakers today are exploring new battery technologies. Just this week, sources reported that Toyota may announce a battery with more than double the capacity of a lithium-ion cell as soon as 2021.
Project Titan faces significant hurdles even under the best circumstances. Breaking into the automotive business is brutally hard, with most automotive startups failing within their first few years. The few that make it need deep pockets – Tesla, Inc. needed 17 years of continuous growth to turn a profit.
But Apple has those pockets. By some accounts, it is the world’s most valuable company. And Tesla has made the road slightly easier for those that would follow. Tesla’s challenges to state laws that prevent automakers from opening their own dealerships allow it to operate outlets in 29 states and the District of Columbia. These changes mean that Apple would be able to pursue the same sales model without the lobbying expense.
Possible partnership
Still, many observers expect Apple to ultimately partner with an existing automaker, rather than building its own factories and distribution network. It could also reach agreement with an automotive parts manufacturer or other company already engaged in large manufacturing projects.
At one point, the company was in talks with parts maker Magna International, but those talks ended with no agreement. Parts makers typically require an automaker to guarantee high sales volumes before they agree to a new contract – a challenge for a company just trying to break into the market.
Reuters speculates that Apple could also narrow its efforts, offering an autonomous driving system that could be integrated into a partner company’s cars. But, for now, the big news is that Apple still intends to build and sell an Apple-branded car, and it could come to market in just four years.
