Apple Buys Self-Driving Start-Up Drive.AI to Bolster Project Titan

Posted by MarketsandMarkets on Jul 19, 2019 5:04:12 PM

On 26th June 2019, Apple acquired Drive.ai—a self-driving start-up—in a move that is expected to give a massive thrust to its autonomous vehicle technology. While the acquisition terms were not made public, it is believed that Apple acquired the struggling start-up for less than USD 77 million. The acquisition bolsters Apple’s autonomous vehicle initiative—Project Titan—and will help the smartphone giant to effectively compete with rivals such as Tesla and Waymo, which have a head start over the former.

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Topics: Tesla and Waymo, autonomous vehicle technology, autonomous vehicles, Semi-Autonomous and Autonomous Vehicles, Start-Up Drive.AI, Apple’s Project Titan, acquisition bolsters Apple’s, Self-Driving Start-Up

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