From Fortune Magazine:

Apple’s decade-long journey to bring an electric vehicle to market looks to be delayed once again, raising questions about CEO Tim Cook’s success in product development. The car may be years away and will likely join a crowded EV space, far from its original vision.

The company has stripped the car down and delayed its release to 2028, shifting from an industry-changing product to mimicking existing autonomous steering and braking capabilities.

While Cook has overseen Apple’s rise to a $3 trillion market cap, he has yet to bring a revolutionary product like the iPod or iPhone to market.

Apple’s shift away from exceeding current technology to replicating what already exists raises concerns about the company’s need for another hit alongside slow iPhone sales.

Despite an 18% increase in EV sales in 2023, the auto industry is showing signs of hesitation, with Ford and General Motors postponing investments in electric vehicles. Tesla’s decision to cut prices reflects weakening demand.

Moreover, the company’s tentative approach to electric vehicles aligns with industry chairmen’s predictions that demand for such vehicles will max out at about 30%.

Apple’s delayed EV project will face headwinds and stiff competition in an automotive industry as other tech giants, like Alphabet, announce their own autonomous vehicle plans.



Read more: Tim Cook and Apple’s EV: Another delay and terrible timing for the electric vehicle space?