Apple's long-rumored self-driving car project, known as Project Titan, has officially been canceled after a decade of development and approximately $1 billion in annual investment.

The California Department of Motor Vehicles revoked Apple's autonomous vehicle testing permit, which had been issued in 2017 and was set to expire in 2025.

Apple's decision to cancel the permit came just weeks before Tesla's anticipated Robotaxi unveiling, signaling a shift in the competitive landscape for autonomous vehicles.

While Apple has stepped back from the self-driving space, companies like Tesla, Waymo, and Cruise continue to make significant advancements, with Tesla's Full Self-Driving Beta gaining notable attention.

The Apple Car project faced numerous challenges, including delays, leadership changes, and a shift in focus from fully autonomous vehicles to other technological features.

Despite the cancellation, Apple gained valuable insights into robotics, artificial intelligence, and battery technology, which may benefit other products like the Vision Pro headset.

One of the reasons cited for the project's cancellation was that the vehicle design did not meet the futuristic standards initially envisioned by Apple.

At its peak, Apple had expanded its testing fleet to about 70 vehicles and employed over 200 drivers, reflecting its ambitious goals for the project.

Apple had collaborated with Chinese automaker BYD to develop long-range electric vehicle battery technology, although it does not own the technology used in BYD's current Blade batteries.

In contrast to Apple's retreat, Tesla has made significant strides in electric vehicle autonomy, recently showcasing a fully autonomous electric car and a self-driving Robovan.

The cancellation of Project Titan represents a rare failure for Apple, but the knowledge gained during the project has been beneficial for its ongoing innovations.

Following the dissolution of Project Titan, Apple Robotics may pivot towards developing new products, including a smart home speaker with advanced features.