Apple Cancels Decade-Long EV Project: Chinese EV CEOs React.
Bloomberg’s recent report on Apple’s abandonment of its decade-long electric vehicle (EV) initiative has triggered responses from CEOs within the EV industry, including those from Xpeng, Li Auto, Xiaomi, and Jiyue.
For many executives in Chinese electric vehicle (EV) companies, Apple has long been perceived as a significant future competitor due to its notable success in the consumer electronics sector.
The news of Apple’s reported decision to scrap its car-making venture has generated discussions, with some executives expressing shock, yet ultimately relief, particularly among China’s EV players.
According to Bloomberg’s February 28 report, Apple internally disclosed the discontinuation of its EV project, surprising nearly 2,000 employees involved in the endeavor. The project is expected to wind down gradually, with many team members transitioning to the artificial intelligence (AI) division under executive John Giannandrea, focusing on generative AI projects.
While the exact number of layoffs remains uncertain, the move has sparked conversations within the Chinese community, prompting CEOs of several EV makers to voice their opinions.
He Xiaopeng, Chairman and CEO of Xpeng, expressed surprise at Apple’s unexpected move, highlighting its potential impact on the future of the EV industry. Similarly, Li Xiang, Founder and CEO of Li Auto, praised Apple’s strategic shift towards AI, citing its potential for transformative growth.
William Li, CEO of Nio, refrained from immediate comment but has previously acknowledged Apple as a formidable competitor. Meanwhile, Lei Jun, CEO of Xiaomi, reaffirmed Xiaomi’s commitment to car manufacturing despite Apple’s retreat, underscoring the firm’s resolve in building quality vehicles for its consumer base.
In response to Apple’s focus on AI, Joe Xia, CEO of Jiyue, emphasized the significance of AI in the tech industry’s future, proposing potential strategic partnerships for Apple to leverage advanced manufacturing capabilities.
These reactions reflect the evolving landscape of the EV industry and the strategic considerations among key players amidst shifting market dynamics.
