Just a few weeks ago we started hearing rumors that Apple might be working on an all electric car. These rumors seemed odd as first. Apple has never worked in this industry before, it has no experience whatsoever with making cars, and yet the rumor mill kept insisting that such a project is brewing at One Infinite Loop. The company has recently hired talent that has worked in the auto industry before, further fueling speculation of an all electric car, and a latest report suggests Apple might begin production of its first car by 2020.

This report comes from Bloomberg which cites people with knowledge of the matter. The scribe believes that this timeframe emphasizes Apple’s aggressive goals with its new project and might set the stage for intense competition with Tesla Model 3 and Chevrolet Bolt, both are all electric vehicles that are currently expected to be available around 2017.

Recent rumors have also suggested that not only is Apple’s car going to be all electric, it may even be autonomous, having the ability to drive itself. Self-driving car technology has many companies interested, Google is at the front of this pack, with other companies like Sony following close behind.

So far Apple has declined to comment on all stories that suggest it might be working on a car. The company has ample cash reserves in hand to fund such an ambitious project and five years is time enough to design, develop and start production of a car.

Lets see if this really happens or not.

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