Apple is looking for partners for its new venture: the electric car market. According to the Taiwanese newspaper DigiTimes, a team of employees of the American technology giant had visited South Korea on a secret business trip to meet with local companies LG, SK and Hanwha.
The publication also says that Apple is looking for battery suppliers to produce the electric vehicles in the United States.
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The Korea Times, in turn, cites a source inside Apple who would have confirmed the negotiations, still at an early stage, for future partnerships.
“Apple employees were in Korea to negotiate with their Korean partners in the semiconductor and screen industries. As seen in the smartphone business, the company is looking for partners for its electric vehicle business.” an executive would have told the publication.
“Without partnerships with Korean suppliers, Apple will not be able to complete its electric car business plan. Apple talked to LG, SK and Hanwha”.
Apple considers the use of lithium iron phosphate battery (LFP) in the Apple Car, which is currently produced by Korean companies. These batteries perform worse at low temperatures than lithium-ion batteries, but they are cheaper.
The expectation of Korean companies is to take advantage of the US government’s BRL 6.24 trillion mega investment in infrastructure and stimulus to reduce carbon dioxide. Thus, there is great expectation that Korean companies will participate in the US planned environmental technological revolution.
LG and SK are in the process of setting up battery factories in the US. Samsung said it considers following the same path.
According to Apple, its electric vehicle will be released by 2024. Apple car could generate $50 billion in revenue up to 2030.
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