Photo/Zhang Jian (NBD)

Apple has decided to cancel its electric car project, according to a report by Mark Gurman, a well-known technology journalist. The project has been in the works for over a decade, but Apple has reportedly decided to focus on other areas, such as artificial intelligence.

Photo/X

Li Xiang, CEO of Li Auto, posted on Weibo on February 28 that Apple's decision to give up car making and focus on artificial intelligence is wise, and the timing is also right.

Li Xiang said that if Apple succeeds in making toC artificial intelligence, it will become a $10 trillion company; if the artificial intelligence project fails, Apple will become a $1 trillion company. Artificial intelligence will become the top-level entrance for all devices, services, applications, and transactions, which Apple must fight for. If Apple succeeds in making cars and becomes a huge success, its market value will increase by $2 trillion. But AI is a prerequisite for Apple's success in cars.

Li Xiang also said that Artificial intelligence spans the digital and physical worlds. The three necessary conditions for the success of artificial intelligence are talent, data, and computing power.

Lei Jun, founder and CEO of Xiaomi, said on Weibo that he was "very shocked" by the news of Apple's decision to give up car making.

Lei Jun said that Xiaomi's strategy is to "build a full ecosystem of people, cars, and homes." He said that Xiaomi knows that making cars is difficult, but they made a "very firm strategic decision" three years ago to "build a good car for Mi fans."