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1

How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

2

Meet the 33-year-old CEO betting on boomers chasing their grandkids—and millennials selling their first house

3

The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
Apple

Apple’s hiring more car industry experts for a secret project

By
Claire Groden
Claire Groden
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By
Claire Groden
Claire Groden
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July 21, 2015, 10:17 AM ET
Transportation Sec'y Foxx Discusses Future Transportation Trends With Google CEO
MOUNTAIN VIEW, CA - FEBRUARY 02: U.S. Transportation Secretary Anthony Foxx (R) and Google Chairman Eric Schmidt (L) ride in a Google self-driving car at the Google headquarters on February 2, 2015 in Mountain View, California. U.S. Transportation Secretary Anthony Foxx joined Google Chairman Eric Schmidt for a fireside chat where he unveiled Beyond Traffic, a new analysis from the U.S. Department of Transportation that anticipates the trends and choices facing our transportation system over the next three decades. (Photo by Justin Sullivan/Getty Images)Photograph by Justin Sullivan — Getty Images
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First, Apple (AAPL) revolutionized the Walkman, then the cell phone, and later the watch. Now, Apple seems to be planning on reinventing the car, hiring experts from across the auto industry.

According to a report in The Wall Street Journal, Apple has hired Doug Betts, a longtime auto industry expert who previously headed up global quality at Fiat Chrysler Automobiles. Earlier this year, Apple brought on Paul Furgale, an autonomous vehicle researcher in Switzerland, as well as hundreds of others from the auto industry.

The team for the secret project, code-named “Titan,” is working on creating an Apple-branded electric car, the Journal said. Some reports indicate that the car will be self-driving, but because Apple hasn’t said anything about the project, it’s difficult to parse out rumors from reality.

If the reports are true, however, then Apple will likely be going brain-to-brain with Google (GOOG) in seeking to produce a self-driving, electric car. The Google car, which has been explicitly discussed by the company, will be self-driving, and prototypes are already roving the streets of Mountain View, Calif. The autonomous cars have so far logged more than 2 million test miles, according to USA Today.

Of course, both Google and Apple will have a long way to go before electric, autonomous cars are in the hands of consumers. But Apple’s collection of auto industry experts potentially lends gravitas to a project that has long been obscured by rumor.

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