Apple abandons its plans for an electric car, dumping one of the most ambitious projects in its history.
This was reported by the Bloomberg agency, citing some sources, according to whom the communication took the almost two thousand employees of the project by surprise.
They will be asked to focus on artificial intelligence.
The indiscretion helps Apple stocks on Wall Street, where they rise by more than 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 is slowing 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 production 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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