Inside Apple’s Shock Decision to Cancel Its “Tesla Killer”

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By Business Insider

Apple is killing its electric-car project, and Elon Musk is here to deliver a eulogy.

The tech giant is pulling the plug on its decadelong electric-car project, Bloomberg reported Tuesday, citing people familiar with the matter. In response to the news, the Tesla CEO posted a saluting face and cigarette emoji in an X post on Tuesday.

“The natural state of a car company is dead,” Musk wrote in another post.

Many employees involved in the car project are set to be moved to the company's artificial-intelligence division, Bloomberg said, but there could be layoffs among Apple's engineers and car designers.

The iPhone maker has been working on the electric car since 2014, but the vehicle's development has been plagued by leadership changes and launch delays.

Musk, of course, is no stranger to the difficulties of producing an electric vehicle. The Tesla chief has battled funding shortages and production setbacks to get his cars made.

Even though Apple is a trillion-dollar tech behemoth, Musk said in 2015 that he wasn't threatened by its interest in the electric-car market.

“It's good that Apple is moving and investing in this direction. But cars are very complex compared to phones or smartwatches,” Musk told the German newspaper Handelsblatt. “You can't just go to a supplier like Foxconn and say: ‘Build me a car.'”

Musk even referred to Apple as a “Tesla graveyard” in the same interview.

“If you don't make it at Tesla, you go work at Apple. I'm not kidding,” Musk said to Handelsblatt.

Representatives for Apple and Musk did not immediately respond to requests for comment from Business Insider sent outside regular business hours.

The “Second Nvidia” Is About to Soar


The artificial intelligence (AI) boom just created one of the biggest companies in the world. I'm talking about Nvidia. The firm is worth more than $1 trillion thanks to this explosion. However, most people don't realize Nvidia just got lucky! Because for most of its history, Nvidia has been focused on an entirely different industry – video games. You see, Nvidia's chips have been designed to serve just one purpose… To create ultrarealistic graphics in games such as Call of Duty and Counter-Strike. In other words… This technology was never meant to power AI. And that's also the reason why Nvidia could soon crash and burn… Because there's a new player in town – one that owns a patent-protected chip specifically designed to run AI on. This makes it much more powerful than Nvidia's gaming tech. I'm talking about a 100x performance boost. The U.S. Air Force, Cisco, and Raytheon are just some of this firm's early elite clients. But soon this chip will be available to the mainstream… And if you position yourself before it reaches the mass market, you could turn every $1 into $120… Just like early Nvidia investors did. Keith just published an urgent presentation on this unique opportunity. Inside, he explains all the details and how you can position yourself today. Get the full story here while there's still time.