Apple is apparently in talks with another established automobile maker for the production of its self branded car. The company could strike a deal with Toyota to make the Apple Car, with production starting by 2024.

According to a DigiTimes report (Via MacRumors), representatives from the Cupertino based giant have apparently met up with South Korea’s SK Group and LG Electronics and are now looking at Japan’s Toyota as the next potential partner. For those unaware, the iPhone maker has been rumored to be working on its self branded car for a while now. But its a major shift from making consumer electronics to a whole vehicle, and thus, the brand is looking to partner with established firms  to get access to a new supply chain.

Interestingly, recent reports have also revealed that the company aims to develop its own EV batteries in the US that aims to “radically” reduce the cost of batteries and increase the range of the electric vehicle. Furthermore, the report also added that the company is aiming on starting production for its self branded Apple Car by the year 2024, which is in line with previous reports that stated the same year for production. Keep in mind that this is still an unconfirmed report so take it with a pinch of salt for now, and stay tuned for more updates.

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Inside sources have indicated that US tech powerhouse Apple may be planning on a partnership with Chinese firms CATL and BYD to supply batteries for its planned electric vehicle. The sources say that talks have already begun between the three companies, although it is believed that no concrete agreements have been reached yet. The news further shows that Apple is indeed moving ahead in its plans for an Apple-produced electric vehicle.

Apple will likely settle for lithium iron phosphate batteries, which are cheaper to produce due to their composition. Apple has put in some prerequisites for potential battery supplies for its vehicle. The companies must have manufacturing capacity in the United States, although CATL is yet to have any manufacturing plant in the US. It is a major supplier to some heavy hitters in the industry, including Tesla. Amidst the growing tensions between Washington and Beijing, CATL is reluctant to set up shop in the US, as it fears it may be caught in the political crossfire. In addition, the inside source also indicated that cost considerations might also prevent CATL from manufacturing from the US.

CATL is a global leader in automotive battery production, while BYD is the world’s fourth-largest automotive battery maker. Apple may also discuss with other battery manufacturers before it decides on the preferred supplier of batteries for its EV.

Apple hopes to meet its target date of producing its self-driving passenger vehicle, and the company may also have its designs for a battery for its vehicles. This could mean that a potential partnership with any battery maker is for the possible production of an Apple-designed battery.

The global auto market is fast evolving with a major shift towards electric vehicles even by many traditional automakers. The demand for important components like automotive batteries is fast-growing and current manufacturers like CATL and BYD are expanding their capacity to meet this demand.

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(source)

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