Apple Shifts Gears From Electric Car to AI, Ending Secret Decade-Long Project
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Apple has ended its secret electric vehicle project after a decade and will redirect resources to AI instead.
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The move allows Apple to focus on a broader AI strategy within its existing products rather than enter the difficult automotive market.
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Apple's software like CarPlay has already reshaped the car industry by connecting iPhones to car dashboards.
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Competition in electric vehicles is heating up while margins are decreasing, making it less attractive to enter now.
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It's still not clear how AI will drive growth for Apple, but details on new AI features will be shared later this year.