Report: Apple Expanding Electric Car Facilities

Apple Inc. AAPL is in the process of "significantly ramping" its electric car project.

Tech Insider, citing a report from Silicon Valley Business Journal, noted that Apple just leased a 96,000-square foot facility in Sunnyvale, California. The lease fuels further speculation that Apple is expanding its electric car project, dubbed "Project Titan."

In fact, Apple's lease was apparently signed in November and Sunnyvale has been identified as the ground-zero for Project Titan. Meanwhile, the company has been active in recruiting personal with the type of experience and knowledge that would be required to develop an electric car.

Tech Insider did however add that Apple is unlikely to confirm or deny the existence of electric cars and what is really going on at Project Titan and its new California facility.