Apple's analyst Piper Jaffray Gene Munster says the progress of its secret electric vehicle will be a five-year plan.
So far been referred to as "Project Titan," the car will be designed by Apple, while outsourcing 80 percent of the car's production.
Jaffray said Apple might show off the vehicle in 2019 or 2020, with sales starting from 2021. He added that the car will be priced at about $75,000, closer to today's base-priced Tesla Model S electric sedan.
The analyst added that Apple has a team working on the project. As of early 2015, Apple had increased the number of people working on the electric vehicles.
Apple is unlikely to abandon the project, because the electric vehicle production is an almost-sure source of revenue for the tech giant.