Bloomberg: Apple Car reportedly hitting the market in 2024 with revolutionary technology

Bloomberg reports that Apple has recommitted to its plans to produce an electric vehicle.

The company has been working on Project Titan since 2014,  and at one point in 2019 laid off 190 people who were working on the project.

Today Bloomberg reports that Apple has now more clearly defined the project, to make a consumer vehicle, powered by a revolutionary “monocell” design that offers greater density and therefore increased range. Apple is also looking at LFP, or lithium iron phosphate, which is cheaper, safer and less likely to overheat.

Apple is expected to partner with an existing car OEM, but face some challenges as these companies often need a production run of at least 100,000 vehicles or more.

“If there is one company on the planet that has the resources to do that, it’s probably Apple. But at the same time, it’s not a cellphone,” said a person who worked on Project Titan.

Little other detail on the vehicle is available, and due to the pandemic, it may still slip to 2025.

It seems likely that Tesla’s burgeoning stock price has motivated the company to try and enter the area once again, and it would be interesting to see what the result of completion between these two iconoclast companies will be.