Apple Stock News
There has been widespread speculation for years concerning the possibility that Apple is working towards the development of an electric vehicle. When Apple’s VP of Product Design Steve Zadesky left the company at the beginning of the year, it was believed that the company may have started to shift focus away from the “secret” project. This week, however, it was confirmed that Chris Porritt has joined Apple to work on “special projects”, a division that is believed to encompass the car project known as Project Titan.
In his most recent position prior to joining Apple, Porritt was the VP of vehicle engineering for Tesla Motors, which is thought to be the biggest competitor that Apple will have if and when their car is introduced. Prior to his position with Tesla, Porritt was the chief engineer for Aston Marten and was involved in the development of several of their famous sports cars.
While specifics of the project have not been released and rumors surrounding the project have not been confirmed, the Apple Car was upgraded to “committed project” status as of last September and around 1,800 employees have been hired to work on the development of the car. Tesla’s CEO Elon Musk has acknowledged rumors, stating that, “it’s pretty hard to hide something if you hire over a thousand engineers to do it.” Still, Apple’s CEO Tim Cook has avoided confirming what’s to come.