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The key phrase in the report is "no longer includes building its own car". That was expected a long time ago. Apple may have the cash to start a new car company, but we have seen a few startups that failed, due to domestic and international competition. Apple could had bought an existing car company, and some suggested Tesla Motors or Chrysler (who is searching for a buyer).

Apple doesn't build much locally, and has Foxcomm (a Chinese company) building their products at a lower cost than in the U.S. or even in North America, so I don't see them as 'American" any more.

Bye Bye, "iCar"!
 
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