Apple has decided to end its nearly decade-old electric car project.
Apple has been working on the production of an electric car for almost a decade, but now it has been decided to end the project.
Bloomberg reported that the company announced the decision internally on February 27, surprising the 2,000 people working on the project.
Employees were informed of the decision by chief operating officer Jeff Williams and project manager Kevin Lynch, the report said.
Both told the employees that work on the project would be phased out and the people involved in its preparation would be transferred to the Artificial Intelligence (AI) division.
The company will now focus more on AI projects. Shares of the company rose 1 percent on the report that Apple has halted work on the project.
The project was named Project Titan and work on it began in 2014. The project was to develop an electric vehicle capable of self-driving. But the project faced difficulties from the beginning and was changed several times.
Hundreds of millions of dollars were spent on the project, but company officials feared the car would not be a success in the market as demand for electric vehicles had declined in recent months.
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