Apple’s project on wheels: the electric car revolution starts here.

TLDR:

• Apple has halted its electric car project after a decade of investment.
• The company will shift employees to its AI division.

US tech giant Apple has reportedly pulled the plug on its electric car project after a decade of investment into the technology, devoting more resources to artificial intelligence (AI). The halt on the decade-old project, which was reported on Tuesday and will see employees shifted to the firm’s AI division, was welcomed by markets.

Apple kicked off Project Titan 10 years ago, with hopes of releasing a self-driving vehicle as early as 2024. However, the project faced challenges such as the COVID-19 pandemic and was ultimately scaled down to focus on a more conventional car with advanced driver-assistance features.

Several leading automakers, including Tesla, have also shifted plans to focus on hybrids instead of fully battery-powered cars. The electric vehicle sector has struggled in the global economy, prompting industry-wide job cuts and production reductions.