This company's remarks may prove Apple is working on a car (AAPL, GOOG, GOOGL, TSLA)

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The Apple Car might be happening, with a strong emphasis on might.

Toronto-based auto parts manufacturer Linamar Corp. has confirmed that it spoke to both Apple and Google about potentially supplying the two tech behemoths with auto parts if they begin manufacturing cars, reports Bloomberg.

On the surface, this isn't earth-shattering news. Google has been developing a fully autonomous car for some time, and there's nothing here to explicitly confirm that Apple is developing a car. But consider that a few weeks ago, Apple made a $1 billion investment in Chinese ride-hailing service Didi Chuxing.

Apple has never publicly announced it is developing a car, but the company has reportedly hired 1,000 engineers to work on a car project codenamed Titan. Apple also reportedly hired former Tesla executive Chris Porritt to help develop the Apple Car. Not much is known of the design, but many expect the car to be electric and self-driving, reports Fortune.

Other signs have emerged that Apple is working on a car, such as a greater R&D budget and the recent news that the company is investigating space in San Francisco to test the self-driving cars. Above Avalon also reported last month that the company's R&D spending as a share of total revenue will hit an all-time high by the end of 2016.

iPhone sales have plateaued, so greater R&D spending implies that Apple wants to diversify with new products, such as a car, Above Avalon noted.

Self-driving cars will be on the road at some point, but there are still several questions. Who will the major players be in this space? Will companies be able to overcome regulatory hurdles, technological issues, and the public's trepidation?

John Greenough, senior research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on self-driving cars that examines the major strides automakers and tech companies have made to overcome the barriers currently preventing fully autonomous cars from hitting the market. Further, the report examines global survey results showing where fully autonomous cars are highly desired.

Here are some key takeaways from the report:

• Three barriers have been preventing fully autonomous cars from hitting the road: 1) high technological component prices; 2) varying degrees of consumer trust in the technology; and 3) relatively nonexistent regulations. However, in the past six months, there have been many advances in overcoming these barriers.
• Technology has been improving as new market entrants find innovative ways to expand on existing fully autonomous car technology. As a result, the price of the components required for fully autonomous cars has been dropping.
• Consumer trust in fully autonomous vehicle technology has increased in the past two years.
• California became the first US state to propose regulations. California's regulations stipulate that a fully autonomous car must have a driver behind the wheel at all times, discouraging Google's and Uber's idea of a driverless taxi system.

In full, the report:

• Examines consumer trust in fully autonomous vehicles
• Identifies technological advancements that have been made in the industry
• Analyzes the cost of fully autonomous technology and identifies how cost is being reduced
• Explains the current regulations surrounding fully autonomous cars

To get your copy of this invaluable guide, choose one of these options:

1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP
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The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the emerging world of self-driving cars.