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Apple, CATL and BYD discuss electric vehicle batteries

Shanghai / Hong Kong — Apple is in early talks with China’s CATL and BYD on planned battery supplies Electric carSaid four people who are familiar with the situation.

The talks are subject to change and it is unclear whether an agreement with either CATL or BYD will be reached, he said on condition of anonymity, saying the discussions were private.

Apple has made it a condition for potential battery suppliers to build a manufacturing facility in the United States, two sources said.

CATL supplying products to major automakers including TeslaAre reluctant to build a US plant because of political tensions and cost concerns between Washington and Beijing, the two said.

It wasn’t immediately clear whether Apple was in talks with other battery makers.

Apple, which has not yet announced plans for the car, declined to comment. CATL, the world’s largest manufacturer of automotive batteries, and BYD, the world’s fourth-largest, also declined to comment.

BYD’s share price rose in response to the news, closing 5.4% in late afternoon trading in Hong Kong and 6.5% in Shenzhen. CATL reversed the previous loss and finished 0.5% higher.

Apple favors the use of cheaper lithium iron phosphate batteries because it uses iron instead of the more expensive nickel and cobalt, four sources said.

The company is working on self-driving technology and has set a goal of 2024 for passenger car production, Reuters reported in December.

If you’re familiar with this, Apple’s plans have been EV May include proprietary breakthrough battery technology. It wasn’t immediately clear whether the discussions between CATL and BYD included Apple’s unique technology and design.

The debate takes place as the US government seeks to attract more EV production. The $ 1.7 trillion infrastructure plan proposed by US President Joe Biden includes a $ 174 billion budget to boost the domestic EV market, including tax credits and subsidies to battery makers.

As automakers accelerate their shift to electric vehicles to comply with stricter emission regulations aimed at combating global warming, many battery manufacturers are producing to meet the surge in global demand. I’m increasing.

In a June report, SNE Research said Chinese battery makers are expected to grow at a faster pace than their foreign competitors, thanks to the further expansion of the world’s largest EV market.

Reuters reported last week that CATL plans to open a major automotive battery plant in Shanghai, which will be near Tesla’s manufacturing site in China.

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Apple, CATL and BYD discuss electric vehicle batteries

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