Posted 2/28/2024, 5:35:49 AM
Apple Scraps Decade-Long Effort to Build Electric Car
- Apple has reportedly cancelled its plans to build electric vehicles, a project it has worked on for about 10 years
- The company had a team of around 2,000 people working on the self-driving electric car under its Special Projects Group
- Many employees from the project will reportedly be moved to Apple's artificial intelligence division
- Apple has likely spent billions on research and development for the project over the past decade
- The cancellation comes as demand for electric vehicles has slowed recently amid high interest rates and increasing competition