No more Apple electric car! Tech giant bins plans to build a Tesla rival after a decade of development and billions spent

AutoExec Summary
Apple has decided to cancel its plans to build an electric car to compete with Tesla after almost a decade of development. The announcement came as a surprise to employees and investors, and many of the thousands working on the project will now focus on generative AI projects or be let go. The decision was influenced by increased competition, difficulties in developing self-driving technology, and a global slowdown in the uptake of electric vehicles. This marks the end of Apple’s ambitious venture into the automobile industry.

Brands mentioned: Tesla, Volkswagen, Honda, Sony, Dyson, Fiat-Chrysler, Afeela, Google