The "Titan" is an all-electric minivan.

Rumors of a car developed by electronics giant Apple have been escalating all week, and now the cat is apparently out of the bag. It's true. Apple, Inc. is building a car.

The Wall Street Journal is reporting that the project is an all-electric vehicle known internally as "Titan," not to be confused with the newly revealed 2016 Nissan Titan. If produced as is, there will likely be little chance of that, since the WSJ says it apparently "resembles a minivan." This would not be the first time an Apple van has raised eyebrows.

Led by ex-Ford engineer Steve Zadesky, who has been with Apple since 1999 and has been the VP in charge of iPhone/iPod design, the Titan team is said to be 1,000 employees strong.

It is said that some of these staff members have been exploring various contract auto assemblers such as Magna Steyr, which has helped companies like BMW, Mercedes-Benz and Volkswagen develop and construct several models, including the X3 and E- and M-Classes.

However, the article is careful to say that Titan is still at an experimental stage and at least several years from production, if it sees the light of day at all. It may also be a platform to test in-car technologies such as Apple's CarPlay.

With tech companies like Google, Uber and Apple getting in to the transportation business, along with Tesla, Silicon Valley may be the next Detroit. If Nissan takes Apple to task about the name, we've already got the perfect replacement — the AppleCart.