Apple negotiates on battery supply for EvsEuropost
The high tech conglomerate Apple is in talks with two Chinese companies over the supply of batteries for the firm's electric vehicles, Reuters reported. Apple is in talks with both CATL and BYD, although real physical production of EVs is still far from beginning. Still, sources familiar with the matter have confirmed the information related to the talks. The initial negotiations are due to further clarification.
Apple has made building manufacturing facilities in US a condition for potential battery suppliers, said two of the sources. CATL, which supplies major car makers including Tesla is reluctant to build a US factory due to political tensions between Washington and Beijing as well as cost concerns. Apple, which has yet to make a public announcement about its car plans, declined to comment. CATL, the world's biggest automotive battery maker, and BYD, the world's No. 4, also declined to comment.
Apple is in favor of using lithium iron phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt which are more expensive. It has been working on self-driving technology and has targeted 2024 for the production of a passenger vehicle. Apple's planned EV could include its own breakthrough battery technology. It was not immediately clear if the discussions with CATL and BYD involved Apple's own technology or designs. The discussions come at a time when the US government is looking to attract more EV manufacturing. US President Joe Biden's proposed $1.7 trillion infrastructure plan includes a $174 billion budget to boost the domestic EV market with tax credits and grants for battery manufacturers, among other incentives. Many battery makers are boosting production to meet soaring worldwide demand as car makers accelerate their shift to electric vehicles to comply with tougher emission rules aimed at tackling global warming.