Ok, so maybe it was never going to be called “iCar”, but that's what people dubbed it for nearly a decade. And now, finally, Apple has scrapped its plans to produce a car. 

Not surprisingly it comes down to money. They determined that it wasn't going to generate enough revenue to make it worth it. According to this article they were planning to build a luxury car with a “limo-esque” interior, fully autonomous, for approximately $100,000. 

And even at that price point they didn't feel like it would generate enough profit. 

Maybe we'll see them partner with another car company in the future. It'll be interesting to see where they divert all that cash and brainpower next.