APPLE BUYS SELF-DRIVING CAR STARTUP DRIVE.AI
Technology giant Apple has purchased self-driving car startup
Drive.ai just as it was preparing to close up shop. Apple confirmed
with Axios it made the purchase on Tuesday, though it's unclear
what the technology company paid for the self-driving car company.
Drive.ai had raised around $77 million in venture capital since its
founding in 2016, but the report suggested the sale price was less
than that figure. Apple's purchase isn't a traditional
transaction, however.
Apple will reportedly on the talent inside Drive.ai instead of
continuing to operate it as a separate entity. Look for Apple to
pluck the best of Drive.ai and add employees to its Project Titan
program. All evidence points to Project Titan as the name of the
company's own self-driving car, or autonomous vehicle
technology program. In 2017, Apple CEO Tim Cook confirmed the
company was developing a self-driving car system. A physical car,
however, is still in
