Rumors about Apple’s electric car project, codenamed “Titan”, are constantly in the media circles. Although the tech company hasn’t confirmed anything yet, reports suggest that the project has a shipping date of 2019.

The company has reportedly given leaders of the project approval to triple their 600-person team. Another reported from Jefferies & Co.’s Sundeep Bajikar, published by Barron’s, says that Apple Car will likely cost $55,000 and ship 200,000 cars in the first year.

“It seems as though the Apple Car could be more than just a myth. They even have a secret headquarters located in the Bay Area. The cover up is a market research firm called SixtyEight Research, who has city permits for the construction of an “auto work area,” and “repair garage.” In May of this year Apple even bought secure facilities in the Bay Area. Maybe to test the potential car?” writes Carlius Williams of The Spectator.

Sources have told Apple Insider that the Cupertino company is reportedly considering using BMW's i3 as the basis for its project. Moreover, the company has also held talks with BMW about a potential partnership, though it's been said that the two parties are not close to an agreement.

The iPhone maker has not made any official statement about the project. In a recent interview, CEO Tim Cook dodged the questions related to the Project Titan, reports Information Week. He laughed and said:

"One of the great things about Apple is probably we have more secrecy here than the CIA."