Apple has terminated its billion-dollar electric vehicle project, with some employees transitioning to the AI team. Apple backs away from the electric vehicle project as its stock price continues to rebound. Employees from the Apple car team will move to the artificial intelligence department. The Apple car project, originating from the 'Titan' project in 2014, has seen its release date pushed back to 2028 and the team has been disbanded. Apple opts out of the automotive industry while Tesla sees a 38% year-on-year increase in deliveries and new Chinese car manufacturers expand their market presence. Xiaomi's car is set to be launched, and Apple's future remains uncertain.

Apple Inc. has announced the termination of its electric vehicle project codenamed 'Titan' and will shift its focus to generative AI research. The Apple team will concentrate on AI research, abandoning a decade-long electric vehicle project. This decision has garnered attention and responses from figures like Elon Musk and reflects the company's progressive thinking. The Apple car team faced various challenges, ultimately leading to the abandonment of the automotive project in favor of AI research. Apple's decision to cancel the electric vehicle project marks a transition towards pursuing more innovative developments in AI.