Apple company was considering car production even before the iPhone hit the market. Steve Jobs met with the manufacturer of the lightweight, inexpensive “V-Vehicle” in 2010. But he dropped the idea of a car and focused development on the iPhone. They have the iPhone as the cheapest investment for them in the new market.
In December 2020, Reuters confirmed that Apple was still working on a car with the full Apple brand. Apple is developing a new battery design that has the potential to "radically" reduce the cost of batteries. Apple is creating a "mono cell" design that will allow it to be consumed more efficiently.
However, Reuters warns that epidemic-related delays could push production backward by 2025 or later and that Apple may decide to reduce the scope of the project. Clearly, Apple is working on some kind of car technology, but the scope of the project continues to evolve.

