Elon Musk Says It's An 'Open Secret' That Apple Is Building An Electric Car

Is

planning on manufacturing and developing an electric car? Does the company's ambition in the new market include an acquisition of

? These are some of the most pressing questions on investors minds. It is unclear if a clear answer will be provided in 2016. In the interim, investors will continue turning towards Wall Street analysts for their analysis. Gene Munster of Piper Jaffray recently

told the BBC

that it is an "open secret" that Apple is working on an electric car. He also added that it was "obvious" Apple is gearing up to offer a compelling competing product of its own. "It's pretty hard to hide something if you hire over a thousand engineers to do it," Musk said.