Bloomberg Report Suggests Apple Cars May Hit the Road Sooner Than You Might Think

Apple executives are pushing a secret team tasked with creating an electric vehicle to be ready for production by 2020, according to a Thursday night Bloomberg report.

Bloomberg reported that Apple has hired battery experts from leading businesses to join their secret project to enter the automobile business.

Tesla CEO Elon Musk added to the publication earlier this month that Apple was attempting to poach his workers, offering $250,000 bonuses and salary incases of up to 60 percent.

The effort to produce an electric vehicle, however, could be scrapped if those overseeing the project are not satisfied with the progress, sources told the publication.

View of the famous logo at new Apple store in Barra da Tijuca, Rio de Janeiro, Brazil, on Februrary 16, 2014. (AFP/YASUYOSHI CHIBA)

The Wall Street Journal reported Friday that hundreds of Apple employees had been working to produce an electric car.

Sources familiar with the project told the newspaper that the project, code-named “Titan,” has been in the works for the past year.

Initial design plans call for a vehicle that resembles a minivan, one source told the Journal.

The reports come weeks after a mysterious van with a strange apparatus on its roof was spotted roaming the streets of a Northern California city. That vehicle was leased to Apple.

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