BY Midnight Trader
— 10:32 AM ET 10/17/2016
Apple has scaled back its auto ambitions, dropping plans to build its own car and cutting hundreds of jobs linked to the project, Bloomberg reported, citing unnamed people familiar with the situation.
The initiative has re-focused on developing an autonomous driving system that gives Apple the flexibility to either partner with existing carmakers, or return to designing its own vehicle in the future, the report said.
The car team has been given a deadline of late next year to prove the feasibility of the self-driving system and decide on a final direction, it added.