Apple Reportedly is in Talks With CATL and BYD Regarding Battery Supply for Electric Car
Apple is reportedly conducting discussions with China-based companies CATL and BYD over battery supplies for its unannounced electric car.
News of this potential deal came by way of Yahoo! Finance, where four sources spoke about the iPhone maker sitting down with both CATL and BYD. As of the time of writing, it’s still unclear if Apple will solidify a deal with either company. It appears as though negotiations are still being ironed out.
According to the report, part of Apple’s negotiations with CATL and BYD concerned the building of a manufacturing facility in the US. It’s been stated that CATL was reluctant to agree to such a term as political tensions within the US and China are still at play. Associated costs with building a facility were also a concern for CATL, per the sources.
At this point, all involved parties have declined to comment on the matter. Although many reports have pointed to Apple developing its own electric car, the company has yet to formally acknowledge the existence of said innovation.
It’s also unknown whether Apple has approached any other companies besides CATL and BYD over battery supplies. Sources said Apple is favouring lithium iron phosphate batteries due to its production costs. Batteries of which use nickel and cobalt over iron are typically more expensive to produce.
Those familiar with the matter have said in the past that Apple may include its own breakthrough battery technology in its electric car. However, it’s unclear whether those breakthroughs involved CATL and BYD’s involvement.