TECH
20/02/2015 11:26 GMT | Updated 20/02/2015 13:59 GMT

Apple Wants To Build The iCar By 2020

Apple wants to reveal a consumer-ready car by 2020 according to a report by Bloomberg which cites a number of sources who are close to the project.

Bloomberg suggests that Apple already has over 200 employees working on the car project and is already in the process of aggressively hiring automotive experts from rival companies.

This was then further reinforced when Apple became the focus of a lawsuit by US-based battery maker A123 Systems which alleges that Apple has poached its best employees for what would essentially be a rival business.

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Apple has yet to comment on the claims however it does shed further light on what has until now, been a highly secretive project.

There had been rumours suggesting that rather than start from scratch Apple would consider purchasing Tesla Motors. This would appear to have been panned however when Elon Musk revealed to Bloomberg that Apple had been trying to tempt away some of Tesla's best employees by offering $250,000 sign up bonuses and even 60 per cent pay rises.

In the past few months a number of different stories have broken surrounding the project including the news that Apple was hiring a fleet of vans covered in sensors, suggesting that the company's first car could be self-driving.

As Bloomberg points out, it usually takes a well-established car maker around five to seven years to bring a car to market, with some even suggesting that for Apple the figure could be as high as 10.

That said, companies like Tesla have shown that the hurdles needed to overcome as a new car maker are no longer as high, and with over $100 billion in cash reserves, it's not like Apple is short of money to throw at the project.