Apple has scrapped plans to create its own electric car, according to reports.

The project, which was to build a fully autonomous vehicle slated for launch in 2024, began a decade ago but now won't proceed any further, reports Bloomberg.

The decision was made this week during s meeting between Chief Operating Officer Jeff Williams, and a Vice President in charge of the project, Kevin Lynch, insiders told the financial news organisation. 

Apple reportedly surprised the near-2,000 people working on the car project, with the pair telling staffers that some of them will be redeployed to its AI (artificial intelligence) division. 

The project, dubbed 'the Apple Car', began around 2014 and set out to create an EV with fully autonomous capability and voice-guided navigation, with a predicted price tag of $100,000. It had a troubled life with the tech giant changing the teams working on the multi-billion-dollar project many times.

It's thought Apple scrapped the plan due to concerns about the car ever seeing the light of day. There were also fears over whether the company could generate the type profit it enjoys on its main products.