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(Bloomberg) -- In abandoning plans for a self-driving car, Apple Inc. is giving up on billions in potential revenue and the dream of selling what one executive called “the ultimate mobile device.” The hope is that other big bets — including generative AI and mixed-reality headsets — can make up the difference.Most Read from BloombergApple to Wind Down Electric Car Effort After Decadelong OdysseyHow Much Wealth You Need to Join the Richest 1% Around the WorldOffice Tower Deal for $1 Reveals Anxie

Find out the latest news about Apple canceling the Apple Car project and its implications on employees, other products, and more. Stay informed with our comprehensive coverage.

Apple's decision to abandon its car project signals a shift away from the automotive market and towards AI and mixed-reality headsets.

Apple has halted its long-rumored “Project Titan” work on developing an autonomous car. Find out what happens to the 2000-strong team that was working on the project.

Apple told employees Tuesday it was abandoning plans for a self-driving car and reassigned some of the staff to its AI efforts.