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Apple To Abandon Electric Vehicle Effort.

Apple is reportedly scuttling efforts to build an electric car after spending nearly a decade and billions of dollars on the project.

Bloomberg reports that Apple on Monday announced internally that it’s canceling its EV endeavor, dubbed Project Titan, surprising the nearly 2,000 employees that have been working on it. The outlet said some of the workers would be redirected to focus on Apple’s generative artificial intelligence division, while others will be laid off.

Rumors have swirled for years that Apple was trying to build an autonomous electric taxi in an effort to take on EV giant Tesla. According to The Verge, initial reports about the secretive project emerged in 2015.

General Motors so far has launched electric vehicles from its Ultium battery architecture with higher-end price points that reflect their considerable content and driving range.

But the automaker is “mindful” of the need for affordable EVs as the industry works to increase consumer adoption, GM CFO Paul Jacobson told Automotive News.

That’s why GM decided to bring back the Chevrolet Bolt EV rather than follow an earlier plan to develop a separate lower-cost EV platform. Reviving the Bolt nameplate in 2025, after discontinuing the first generation last year, will save billions of dollars, Jacobson said.

The next Bolt will use purchased lithium iron phosphate battery cells, a first for Ultium EVs in North America.

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