Apple has reportedly stopped working on its electric vehicle project and moved some staff members to its artificial intelligence project. The halt in EV operations comes at a time when the industry is facing a shacky trajectory. The decision also comes at a time when the AI industry is projected to have a strong growth outlook.
Apple to Stop Working on EV Project; Staff to Shift to AI Unit
Reuters on Tuesday reported that Apple has halted work on an electric vehicle, ten years after the iPhone manufacturer began the project.
The company’s artificial intelligence (AI) branch will be receiving several staff members who were working on the electric car project, as first reported by Bloomberg News.
The EV sector has currently faced a downturn with reduced employment and output as a result of the consumer backlash. This situation has been caused by high borrowing rates intended to contain inflation and the decline in demand for electric vehicles, which are often more expensive.
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