"Companies like Apple will probably make a compelling electric car, it seems like the obvious thing to do," Musk, who made billions from the success of PayPal, told the BBC.
"It's pretty hard to hide something if you hire over a thousand engineers to do it."
Apple is widely believed to be developing its own electric car. It has reportedly been scouting locations for testing and meeting with regulators, and has registered car-related website domains.
Tim Cook, its chief executive, has also said that the car industry should expect "massive change".