Is Apple entering the electric vehicle market?


Apple electric vehicle

It’s no secret that the market for electric vehicles has grown significantly in recent years. Nevertheless, we are just at the beginning, so there are many investment opportunities, in particular for large companies. Apparently, the technology group Apple has also understood this, as according to insiders, it has entered into contact with the Chinese companies CATL and BYD.

In the talks, Apple is apparently negotiating the supply of batteries for its planned electric vehicle. However, the negotiations are still in the early stages, so it is not clear yet whether there will actually be any cooperation, according to the Reuters news agency. One of Apple’s conditions is to build production facilities, as Jared Bernstein, a senior White House economic adviser, confirmed to Reuters: “My understanding is that Apple is talking about building advanced battery production factories here in the U.S.” So far, however, CATL, one of the world’s largest battery manufacturers that supplies Tesla and others, is said to be holding back due to political tensions between China and the U.S. and cost concerns.

The ideas of the design of the Apple car are different: This picture shows the idea of Erick Martinez and the cover picture that of Franco Grassi. What the Apple car will actually look like remains to be seen.

What are Apple’s plans for its own electric vehicle?

Apple has not yet publicly commented on its plans for electric vehicles. For this reason, it is unclear whether the technology company is also in negotiations with other battery manufacturers. However, according to the insider, it is clear that Apple prefers lithium iron phosphate batteries because they use iron instead of nickel and cobalt, making them cheaper to produce.

Moreover, since the beginning of the year, rumors have been piling up that the Apple car is to be created together with another car company. Whether this is actually the case, what the car will look like and how much it will cost will become clear when it is launched on the market, which could be in 2024 according to a report by Reuters in December 2020. Let’s be surprised.

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