Apple [NASDAQ: AAPL] plans to start production of an electric car by 2024, potentially leveraging breakthrough battery technology from the tech giant, Reuters reported Monday.
After apparently sidelining the development program sometimes referred to as "Project Titan," Apple now plans to build a car that will be sold to consumers, according to the report, which cited two anonymous sources familiar with the matter.
A key feature will be a battery design that will "radically" reduce cost and increase range, the report said. The so-called "monocell" design would feature larger-than-normal cells as the main building blocks of a battery pack, rather than modules composed of many smaller cells, according to the report.
Apple would likely employ a contract manufacturer to build the car, just it like it does with many of its current products, according to the report, which also indicated the electric-car project wasn't a done deal. Apple could still scale back its plans from a complete car to an autonomous-driving system, and pandemic-related delays could push the launch of any car back to 2025, sources said.
This wouldn't be the first Apple car false alarm. In 2015, it was reported that Apple had designated an electric car as a "committed project," with a planned "ship date" of 2019. In 2018, Apple hired Tesla veteran Doug Field to oversee the project, but he ended up laying off 190 people from the team in 2019.
However, Apple was recently granted several automotive patents—including one for a system that detects cracks in windows, a sensor enclosure, and a holographic head-up display—indicating the company is still actively working on car tech. The company has been steadily accumulating automotive patents for the past few years, including some for steer-by-wire and suspension systems in 2019.