There has been a lot of speculation about Apple’s car plans. Tesla CEO Elon Musk has even said that it’s an open secret that Apple is working on an electric car. The company itself hasn’t addressed these reports as yet but CEO Tim Cook has dropped an indication now which could mean that we might have to wait for a considerably long time before we get to see an Apple car. In an interview, Cook said that the company is only “exploring” the idea of cars at this point in time.

In an interview with Fortune, Apple CEO Tim Cook said that the company isn’t committed to the idea of making a car as yet even though it’s public knowledge that the company has acquired a high-profile team to work on the project.

“We don’t have to spend large amounts to explore. So I can’t talk about this certain area that you’re talking about. But when we start spending large amounts of money, we’re committed at that point,” said Tim Cook when asked about Apple’s car plans.

Cook seemed to suggest in the interview that just because Apple has been hiring people who have automotive industry experience doesn’t mean that it’s definitely going to come out with a car. The company is merely exploring its options right now and that in itself can’t be taken as confirmation that there will be an Apple car at some point in the future.

The CEO also touched on some other points during the interview, such as the fact that the company is not too concerned about reaching “peak iPhone,” or the fact that it’s going to bring Apple Pay to more retailers later this year.

Filed in Apple. Read more about and .