APPLE HAS ABANDONED THE ELECTRIC CAR PROJECT
- Apple $AAPL-0.3% is cancelling its team working on electric cars, as reported by Bloomberg.
- The news signals the end of Apple $AAPL-0.3%'s secret effort to develop a car to compete with Tesla.
- Ambitions to build the car first surfaced in 2014, but now the project is being halted.
- Apple $AAPL-0.3%'s total research and...
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I think it's a reasonable step. They did put some money into it, but they won't have to pay the people who worked on it anymore.