Apple Ends Electric Car Project, Shifts Focus to AI Instead
• Apple has abandoned its efforts to build an electric car, according to multiple reports, after over a decade of work on the project known as "Project Titan."
• Many employees working on the project will reportedly be moved to Apple's artificial intelligence division instead.
• Apple follows a trend of waning investor enthusiasm for electric vehicle investments, as AI currently has a lot of momentum.
• Apple had taken steps suggesting it was serious about self-driving car efforts, like hiring automotive executives, getting permits to test vehicles, and acquiring a self-driving startup.
• Apple's largest manufacturing partner Foxconn plans to start selling electric cars this year, seeing EVs as a big opportunity, even as Apple retreats from the space.