Apple iCar

In 2014, the technological Mount Everest was the electric self-driving car

Apple dove in big, with its Titan Project. 

Fast forward a decade and it’s over. The new peak is Artificial

Intelligence…the Titan Project goes the way of the dodo and the iPod.
In the beginning, Apple’s foray into the car market held the promise of disruption. 

Industry experts believed that Apple could do for electric vehicles what the iPhone did for cellular phones.

But the reality of car design and manufacturing is a far different set of problems than small electronics.

The project had a series of high-profile management defections over the years. Former manager Doug Field left for Ford in 2021. 

Apple’s Vice President of Hardware Engineering, DJ Novotney recently left for rival EV maker Rivian. Novotney spent 25 years at Apple. He was one of the developers on everything from the iPod, iPad, and the Apple watch.

A major problem with Titan was its lack of partnerships. Over the years, there was no end to rumors of potential pairings. 

However, nothing materialized. And in the business of car manufacturing, partnering with an experienced car maker is crucial. 

That’s odd, particularly considering the recent pairing of Sony and Honda for the Afeela EV (due out in 2026).

As you can see from the comments above, social media had a field day at Apple’s expense. And while the company is out of the car making business (for now), it did change the landscape.

Apple made a significant contribution to new cars. When the company launched its CarPlay vehicle interface, it was supposed to be the precursor to an eventual vehicle. While the vehicle isn’t coming, CarPlay changed the way our cars work with our phones. 

More than a dozen automakers built CarPlay into their new vehicles. The manufacturers include Audi, BMW, Buick, Cadillac, Chevrolet, Fiat, Ford, Honda, Jeep, Kia, Land Rover, Mercedes, Subaru, and Toyota among others. That’s tacit approval of CarPlay, which will probably be Apple’s greatest contribution to vehicles.

For the Good,

The Mangrove Investor Team

Numbers You Need to Know

2.3 Billion

Over 2.3 billion iPhone units have been sold to date. (demand sage)

283 Billion

Apple generated $383.2 billion revenue in 2023, 52% came from iPhone sales. (Business of Apps)

$666.66

The Apple I was released in 1976 for a diabolical price of $666.66. While this price put conspiracy theorists in a spin, the truth behind it is far more mundane. Apple co-founder Steve Wozniak has repeatedly asserted that the price is anything but evil, and that he simply liked repeating digits. (Make Use Of)

What’s New in Sustainable Investing

Standard Chartered CEO Bill Winters defends ESG investing

Amidst a turbulent sea of criticism from right-leaning populists, politicians, and high-profile figures like Elon Musk, Standard Chartered CEO Bill Winters stands firm in his defense of Environmental, Social, and Governance (ESG) investing. (BNN)

S&P Launches Biodiversity-Focused Benchmarks

S&P Dow Jones Indices, the world’s leading index provider announced the launch of the S&P Biodiversity Indices, adding to the range of sustainability-oriented performance benchmarking tools it offers to asset managers and other financial institutions. (S&P Dow Jones)

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