Thursday, May 30th, 2024

Apple Officially Bids Farewell to Its Car Project Forever

The iPhone giant abandons one of the most ambitious projects in the company’s history

For a long time, Apple has expressed a desire to enter the electric car segment, but that will no longer be the case. At least not for now, as the tech giant announced it would abandon the ambitious Apple Car project. The company prefers to focus on other areas where it is currently competitive, leaving behind what many had called one of the most ambitious projects in its history.

Employees Caught Off Guard
According to Ansa, citing Bloomberg, Apple has already informed nearly 2,000 employees assigned to the project about the decision to drop the idea of launching the new Apple Car. The focus now shifts to other operational sectors of the company, such as artificial intelligence, a move that surprised the workers themselves.

Shifting Focus to AI
After the rumor began circulating on the web, Apple’s stock on Wall Street increased by 1.2%, and the first reactions from industry leaders started coming in: Elon Musk, CEO of Tesla, for example, shared the news on his X profile, accompanied by two emojis—a cigarette and a waving hand—as a sort of positive reaction to the development. The reason why Apple decided to abandon the project is not clear at the moment. What seems very likely, as mentioned earlier, is that the tech giant will allocate the funds initially intended for electric car research to support AI development.