Apple Is Aiming to Produce Its Own Electric Car by 2020


TIME

Apple wants to start producing its own cars, Bloomberg reports, citing unnamed sources privy to the company’s plans, who say the tech giant is pressuring its teams to work towards the production of an electric vehicle within the next five years.

Bloomberg also cites a recent lawsuit filed against Apple that alleges it has also begun poaching workers from battery-manufacturing firms like Massachusetts-based A123 Systems as well as companies like Samsung, Panasonic and Toshiba.

Meanwhile, Tesla Motors CEO Elon Musk, whose company is attempting to release its own affordable electric car by 2017 and serves as Apple’s main competitor in the automotive sphere, told Bloomberg this month that Apple is offering his workers $250,000 signing bonuses and a 60 percent salary increase to jump ship.

[Bloomberg]

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