A move into the automotive market seems far-fetched for a tech firm like Apple but that's exactly what some rumors are now suggesting. The last decade or so Apple has had a lot of success selling high-end luxury products so I guess in a way a move into the luxury electric car market would make sense.
Apple has been hiring a lot of Tesla employees lately and MacObserver notes that an Apple employee tiped off BusinessInsider to say that Apple is working on a car that promises to "change the landscape and give Tesla a run for its money".
Some research on LinkedIn reveals Apple now has about 50 employees who previously worked at Tesla, most of them specialized in mechanics, manufacturing, and robotics. Additionally, rumor are flying around that Apple has been looking for, and acquiring, the kind of people from Tesla with expertise that is most suited to cars.
Smartphones have something in common with cars, especially electric cars, and that something is software. Apple is one of the world's leading authorities on software, and applying that expertise to cars is less of a stretch than one might think.
Tesla, the world's leading electric car maker, recently demonstrated that, too. The company brought a significant performance increase to one of its cars through a software update.
Which brings us to the full quote BusinessInsider published from the person claiming to be an Apple employee:
Apple's latest project is too exciting to pass up. I think it will change the landscape and give Tesla a run for its money.