Apple Lossless Audio CODEC (ALAC), tried to buy Tesla, the largest and best-known company producing electric cars, which is still struggling to make a profit from them. Everything happened during 2013, when Apple offered a price of 240 dollars per share to buy Tesla, but their offer was rejected at that time.
Then Apple would have spent about 28 billion dollars to buy the Tesla company, about 9 times less than it is worth at the moment. However, if Apple had managed to buy Tesla at that point, then now it would have also sold electric and autonomous cars, having a much larger customer base.
It is not known if this offer was made officially by Apple, or if everything was an informal discussion between managers, or Tim Cook and Elon Musk. Regardless of the reasons why the purchase did not take place, the people from Apple decided to invest alone in electric and autonomous cars, but in 6 years they did not get very far.
I don't know if it got to a formal paperwork stage, but I know from multiple different sources that this was very credible. So, right now, Apple is building multiple, very large drive rooms in California... they're doing something interesting and exciting on the battery side... Project Titan is absolutely not dead.
Apple is still investing very heavily in the Titan Project, the one on which about 1000 engineers are working to develop autonomous guidance software for cars, and not only that. It is not yet known what sums will be needed for the investments to bear fruit, but it is clear that Apple is very far from a product that can be put up for sale.
