Apple to Wind Down Electric Car Effort After Decadelong Odyssey

Apple Inc. has cancelled its ambitious project to build an electric car, surprising nearly 2,000 employees working on the project. The decision was shared internally by Chief Operating Officer Jeff Williams and Vice President Kevin Lynch.

“Apple’s decision to abandon electric cars and shift resources toward generative AI is a good strategic move, we believe, given the long-term profitability potential of AI revenue streams versus cars.”