Apple Shuts Down Project Titan
Apple recently announced that they will not move forward with their EV dream project Titan. They have asked their staff to apply into other relevant teams for the job.
After spending multi-billion dollars, apple came to a realization that they will not be able to make a profitable business in EV space. Apple currently runs all high profitable business in all categories. And EV was not going to turn that profitable for them.
Now, What’s the future for other companies?
We have seen that companies are still confident that the EV will make it through all the challenges, and come out as a definite contender for the future.
We have even seen lots of research happening in the efficiency improvement in lithium ion batteries.
- Microsoft and the Pacific Northwest National Laboratory (PNNL), part of the US Department of Energy, have utilized AI’s power to synthesize a new compound, which could help reduce lithium usage in batteries by 70%. (Read Here)
- Eatron Technologies and the University of Warwick have developed a new battery health algorithm that can accurately estimate the remaining life of an EV battery. (Read Here)
In addition, there was a recent announcement by Xiaomi that they will target their 20 million premium mobile user segment for their first electric car.
On the other hand, BMW is going all in for hydrogen vehicles. They are planning iX5 Hydrogen Car in which electricity is produced via a hydrogen fuel cell, which drives the electric motor while releasing only water vapor from the tailpipe. The iX5 Hydrogen has a range of up to 300 miles on a single tank of hydrogen and can be refueled in about 3–4 minutes.
This is the dawn of hydrogen, it seems. However, in my opinion, EV & Hydrogen both should be seen as a credible alternative for the fossil fuel based vehicles.
