Rivian is bracing for a tough earnings call on Tuesday when rumors of a possible partnership with Apple surfaced. The rumors originating from "supply-chain sources" came after Apple canceled Project Titan in late February. It's unclear what this is all about or whether there will be any partnership at all.
Taiwanese outlet Digitimes reported about an alleged partnership between Apple and an EV startup, which many believe could be Rivian. The information comes from supply chain sources, which don't know what this partnership might mean. Many believe such a partnership will allow Rivian to step up its software game, while Apple could test some of the technologies it developed as part of its canceled car project, Project Titan.
Apple reportedly spent more than $10 billion over ten years to advance its car project. Although Apple did not admit it officially, it poured significant resources into developing an autonomous people mover. Based on insider rumors, the project was canceled and rebooted, eventually being scaled back and finally scrapped altogether. The everchanging development strategy eventually caused the project's demise after key people working on it became increasingly frustrated and left the company.
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