We have been hearing various rumors about the Apple Car for some time, the vehicle is expected to launch some time in 2020.
Apple has apparently been spending considerable amounts of the cash on research and development for their new vehicle.
According to a recent report by Neil Cybart from Above Avalon, Apple will spend around $10 billion on research and development this year, this is up some 30% on 2015.
Apple was apparently spending around $3 billion a year on R&D just 4 years ago, so this $10 the company is spending this year is likely mainly going on their new Apple Car.
We previously heard that Apple has a secret lab in Germany where they are working on the car with a range of people from the German automotive industry, they are also working on the vehicle at another secret location in California.
Apple are expected to build their new car in the same way they build their smartphones, the company will provide a specific set of specifications for the vehicle and will use a third part manufacturer to make the car to their exact specs and standards.
Rumors have suggested that we will see this new vehicle from Apple some time in 2020, as soon as we get some more details, we will let you guys know.
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn more.