Electric vehicles (EVs) are among the bedrock technologies of the sustainability movement. Unsurprisingly, most legacy car manufacturers, including Ford, General Motors, and Volkswagen, have experimented with battery-powered vehicles.

But beyond traditional automakers, some big tech companies have shown an interest in entering the EV market. For the last several years, (NASDAQ: AAPL) has reportedly been working on an EV of its own. In a lot of ways, this makes sense. Apple has a long history of innovation, specifically when it comes to consumer electronics. However, just this week, news broke that Apple is abandoning its in-house EV effort, dubbed Project Titan.

Does this mean that Apple is giving up on its EV ambitions for good?

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Source Fool.com