Apple Scraps the EV
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So it looks like Apple is, yeah, they’re going to scrap the EV project. They’ve been working on this for supposedly 10 years now. Bit of a black box project out there. They’ve spent billions on it. Again, the project was called Project Titan. It had about 2 ,000 employees.
working on it. They now say they’re going to be directing some of the engineers and whatnot into some of their their artificial intelligence division. Obviously, there’s going to be some layoffs that go along with this as well. Just back in 2017, Tim Cook confirmed that they were working on an autonomous system that could have applications in the self -driving car segment. Let me explain to you.
And people say, well, why would Apple even try to get involved in the business of making cars? Well, when the wind is blowing in a certain direction and that wind is free government money, free government money in some sort of subsidy, some sort of handout, whatever it may be, or the ability to generate carbon offsets and credits.
I’m sure that Apple gets whacked upside the head in regards to data centers and some of the things it does to offset that. It’s all a calculation based upon government regulations or handouts or loopholes. This is completely unnatural. This is unnatural. And I’ve equated this to kind of like tinkering around the economy. It’s kind of like Island of Dr. Moreau crap.
You are trying to genetically mess around with the overall economy and some of these big companies, obviously they try to take advantage of that in some way, shape, manner, or form. Now, again, this is Tim Cook, this is not, I mean, things have changed, there’s blowback in regards to EVs. As the CEO of a company is a fiduciary responsibility to his shareholders.
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And if he sees that there would have been an opportunity, whether it be from government handouts, whether it be again from credits that they could have purchased to offset whatever fines are paying in California. I don’t know. OK, there was a logic and reason behind it, but that’s changing. But when you see major companies like Mercedes Benz say, you know what, we’re pushing this back. I’m sure he’s talked to other automakers as well. They don’t see this as this wonderful future.
like everybody else has and again, we can talk about the Lucids the Rivians the Fiskars of the world that more than I mean, those are independent car makers that They’re barely staying afloat So I’m sure that they develop some interesting technology with this that maybe they’ll sell off whatever it may be but Doesn’t surprise me Doesn’t surprise me. Why are you gonna throw good money after bad?
Again, they will continue to work on their Apple CarPlay product and try to improve that, which has worked out really well. But I think a pretty smart move by Apple and interestingly enough, as soon as they announced that they canceled the project, the stock popped. Watchdog on wallstreet .com.
