• Tesla has no problem if Apple launches an electric car

Tesla has no problem if Apple launches an electric car (Photo : Twitter)

With the tech world abuzz with rumors of Apple entering the automotive business, Tesla CEO Elon Musk chose to downplay the development claiming it will make for an exciting proposition.

"I actually hope Apple gets into the car business, that would be great," Musk said.

Apple is reported to have put together of team that is involved in a top secret project named 'Titan'. While its believed to have something to do with automobiles, no one knows for sure what exactly is the scope of the project or what it aims to achieve.

Like Us on Facebook

Apple also has a fleet of vans laden with high tech surveillance equipment plying the length and breadth of America, which has led many to speculate if it has anything to do with providing a 3D makeover to Apple maps, reported AppleInsider.

Another line of thought doing the rounds is that Apple might be fine tuning their CarPlay feature or an advanced version of the same.

However, Apple launching a whole new electric car in the near future can't be ruled out altogether considering the Cupertino company had in fact attempted to acquire Tesla.

As for Tesla, the company had made all its patents public earlier in 2014. According to BusinessInsider, this is being seen as an attempt to lure other automakers to try making electric cars which will drive up activity in the segment.

Tesla also has seen greater uptake of its car models and is gearing up to launch its first electric SUV named Model X towards the end of third quarter. Its Model S has already proved to be a big hit with sales soaring after initial hiccups with the car sorted out.