Well darn. Would have been nice to see it in production. But yeah, probably for the best with the heavy capital investments and a decline in EV interest.
Quote:
Apple has canceled work on its electric car, a source familiar with the matter told Reuters on Tuesday, a decade after the iPhone maker kicked off the project.
Shares of the company were up 0.7% in afternoon trading, having pared some losses from earlier in the trading day.
Several employees working on the electric car project will be shifted to the firm's artificial intelligence (AI) division, according to Bloomberg News, which first reported the development.
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