Apple cancels plans to build an electric car
Publishing timestamp: 2024-02-28 08:34:23
Summary
Apple is winding down its team working on electric cars, signaling the end of its secretive effort to rival Tesla. The program employed thousands of employees but never aligned with Apple's core business. Some employees may move to other projects within the company. Apple continues to focus on health technologies and recently released a virtual reality headset. Apple's car project was part of an internal effort to explore technologies with huge potential markets. Apple shares rose slightly on the news.
Sentiment: NEUTRAL
Keywords: labor economy, business news, technology, environment, entertainment, apple inc, breaking news: technology, business, tesla inc, mobile,
Source: https://www.cnbc.com/2024/02/27/apple-car-project-canceled-report.html