As electric vehicles are becoming more and more prominent in a world where the environment is at the forefront of many peoples' minds, companies are trying to get in on the action to not only help contribute to a better climate but break into this money-making space.
While you may think of Tesla as the world's leading electric car manufacturer, it could have had some competition with one of the leading tech companies, Apple.
Though Apple may be most known their gadgets, they had a secret plan of building their own electric car. This decade-long project was considered one of Apple's most earnest, but recently, Apple COO Jeff Williams and Vice President of Technology Kevin Lynch announced this idea was being scraped.
Apple's Electric Car Project
According to research conducted by AlixPartners in 2022, it costs $8,255 to make one electric car, which is up 140% from March 2020 when it cost $3,381.