Apple is now working on its electric car. They are negotiating with China's Contemporary Amperex Technology Co. Limited (CATL) and BYD Co. Limited for their vehicle's battery supplies.
Apple Inc. is a well-known tech giant with popular series such as the iPhones, iPads, iWatches, and iMacs. Now, the Cupertino-based company has set foot in the electric car industry with its version of the vehicle.
The company said to be "talking" with China's CATL and BYD for the company's planned electric vehicle. Its plan releasing an Apple car means that it will be competing with the industry's leading brands such as Tesla, Chevrolet, and Nissan.
Apple, CATL, BYD: Talking Stage
As of June 8, Reuters reported that it is not yet clear whether CATL or BYD will agree with Apple, and that discussions about the car's battery supplies are subject to change.
They also added that the iPad Pro manufacturer has already finished building several manufacturing facilities in the U.S. for their potential battery suppliers, according to two of their reliable sources.
CATL is a famous supplier for major car brands, including Tesla. However, it is said to be reluctant to build a U.S. factory because of the political tension between Beijing and Washington. On top of this, the supplier is also worried about the cost of supplying to the U.S.
The three companies involved, Apple, CATL, and BYD, declined to comment on the issue as it might be too premature to make a public announcement over something that has not yet been finalized.
Apple seems to favor Lithium Iron Phosphate batteries, which utilize iron, making it more affordable to produce and sustain than nickel and cobalt.
Based on the report, people who know Apple's new electric car previously mentioned that according to the Apple's EV plan, the company would include its version of a breakthrough battery technology.
However, it is still unclear whether Apple's own design and technology made it to their meetings with BYD and CATL, which is known for creating the Million Mile Battery.
Because of the world's increasing hype for electric vehicles, numerous battery suppliers are also ramping up their production to accommodate the mass' demands. In 2021, carmakers are shifting to electric vehicles because they have to comply with stricter emission rules set to tackle global warming.
As a result, China's leading battery makers could grow faster than their foreign competitors as the world's largest EV market continues to expand, according to SNE Research.
Apple Car: All You Need to Know
MacRumors recently said that the Apple Car project had been tossed back and forth over a few years. Throughout planning for their EV, development issues, leadership conflicts, and internal strife all came in the way. As a result, the project has been pushed to the side.
But now, Apple is said to be preparing for its self-driving vehicle.
They also added that Apple is nearing the end of the tunnel as it are about to sign an agreement with Korea's LG Magna e-Powertrain. Based on this report, Apple might not be planning to produce its EV on a wide-scale basis, considering that LG Magna e-Powertrain has a smaller manufacturing capability than its competitors.
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Written by Fran Sanders