
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 bloombergqa@bloomberg.net ⤵️ https://t.co/R9nFl0AZD9
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