EA has been reshuffling its racing division following its acquisition of developer Codemasters, and that appears to have resulted in some unfortunate casualties. The first of these has been confirmed this week by EA (via GamesIndustry.biz): Project CARS is officially cancelled.
The racing franchise has been in development at Slightly Mad Studios for around a decade, with the first game launching back in 2015. The studio and its franchise were then picked up by Codemasters, before EA snapped them all up last year.