WASHINGTON: Apple has suspended work on its electric car, a decade following the iPhone maker started the project, Reuters on Wednesday.
According to Reuters, shares of the firm were up 0.7 percent in afternoon trading, having pared losses from pervious day. Bloomberg News reported that several staff members working on the electric car project will be transferred to the company’s artificial intelligence division.
Experts said that Apple will put more focus on Artificial Intelligence and that should give investors more hope about the firm’s efforts and ability to compete at a platform level on AI.
Apple Stops Work on Electric Car
Apple started Project Titan, as its vehicle effort was known internally, ten years ago, as a wave of interest in self-driving cars swept through Silicon Valley.
Earlier, Reuters reported that Apple was thinking releasing a car as soon as. The design of the concept vehicle changed, from a radical, steering-wheel-free autonomous car that would have been a departure from traditional automotive design, to a more conventional vehicle with advanced driver-help features.
