Apple Failing To Get Car Project In Gear?

(RTTNews) - Apple Inc.'s long-rumored autonomous electric car, Project Titan, has been reportedly scrapped by the tech giant.

According to Bloomberg, Apple has shut down its not-so-secret car project with several hundred employees being reassigned to other divisions and many others leaving the company. Project Titan will now focus on autonomous driving technology instead.

Apple's top executives have given Titan team a deadline of next year end to produce something feasible. The autonomous driving system will provide Apple flexibility to either partner with existing automaker or return to designing its own vehicle in the future, according to Bloomberg's source.

Apple had launched the project Titan in 2014, with market experts expecting a car from the tech giant's stable to become a pioneer in the autonomous car industry. Apple expected to launch a car by the early 2020s.

However, by the end of 2015, the project faced internal strife, with project head Steve Zadesky, leaving the project in early 2016. "It was an incredible failure of leadership," one of Bloomberg's source said.