Apple Scraps Multibillion-Dollar Electric Car Ambitions, Doubles Down On AI

According to various online sources, Apple is scrapping its ambitions to build an electric car, bringing an end to a secretive project that has absorbed enormous resources over the last decade. According to sources, the company's executives made the surprising revelation during an internal team meeting on Tuesday, anticipating layoffs and informing staff that many of them would transition to work on generative AI.

NEW: In abandoning a car, Apple is giving up on billions in potential revenue and the dream of selling the what the guy who killed the project once called the “ultimate mobile device.” Now, the spotlight turns to AI and mixed-reality, for better or worse. https://t.co/onwWXUY4qW — Mark Gurman February 28, 2024 Although Apple did not formally announce its plans to offer a car, the project was a source of intense speculation among the automotive and tech industries.

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