It’s been a decade of stops and starts for Apple’s electric car dream: rumors swirling, hires and layoffs, acquisitions and doubts. After all, last week, it turned out that it was Apple will put the project out of trouble.
In itself, that would be important, but not existential. Tech companies enter and then withdraw from new areas all the time. And while Apple has invested billions in its EV project, it’s certainly a company with cash to spare. Last summer, Apple reported that it was sitting on a pile of nearly $167 billion in cash — one of the largest such hoards in the world. But this is a strange moment for Apple. The cancellation of his EV is the third step in the trifecta – well, maybe not failure, but certainly not the massive success he’s used to.
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