Apple reportedly cancels electric car project

One of Apple's most ambitious projects failed to bear fruit, and those working on it have been reassigned to other projects. Bloomberg News reports that work on the company's decade-long electric car project is being cancelled.

Apple Inc. is canceling a decade-long effort to build an electric car, according to people with knowledge of the matter, abandoning one of the most ambitious projects in the history of the company. Apple made the disclosure internally Tuesday, surprising the nearly 2,000 employees working on the project, said the people, who asked not to be identified because the announcement wasn't public. The decision was shared by Chief Operating Officer Jeff Williams and Kevin Lynch, a vice president in charge of the effort, according to the people.

This reminded me that Elon Musk supposedly tried to sell Tesla to Apple, but Tim Cook wasn't interested. Musk: "During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting."