Apple abandons its plans for an electric car, unloading one of the most ambitious projects in its history.
The Bloomberg agency reports this, citing some sources, according to which the communication took almost two thousand project employees by surprise.
They will be asked to focus on artificial intelligence.
The indiscretion helps Apple stocks on Wall Street, where they rise by over 1.2%, and Elon Musk also likes it who, reposting it on X, attaches two emojis, one greeting and another with a cigarette.
The electric car, known as 'Project Titan', was a project to diversify Apple's production beyond the iPhone and to try to compete with Rivian and Tesla.
A project so secret that Apple has never confirmed it.
The abandonment of the electric car dream comes as the electric vehicle market slows and Elon Musk has warned of slowing sales growth for Tesla this year due to weak demand, high interest rates and growing competition.
Ford and General Motors recently suspended their plans to expand electric car capacity, and last week Rivian announced a 10% cut to its workforce.
According to rumors, Apple will use the funds for research into electric cars in artificial intelligence.
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