Apple is talking with leading Chinese battery manufacturers Contemporary Amperex Technology Company Limited (CATL) and BYD Auto to source batteries for its planned electric vehicles, according to a Reuters report citing unnamed sources “close to the companies”.
The US tech giant was reported to be planning to launch electric vehicle production in the USA in 2024, although this remained unconfirmed.
Go deeper with GlobalData
It was understood to have stipulated to potential suppliers that its batteries would need to be produced in the US, preferably near its planned EV plant.
According to analysts in China, automakers are looking at CATL’s latest Cell-To-Pack technology and BYD’s blade-shaped battery with increasing interest although Apple is also thought to be in talks with other potential suppliers.
President Joe Biden’s administration is pushing carmakers to switch to electric vehicles and has allocated US$174bn of its proposed US$1.7trn infrastructure development programme to expand the country’s EV market through tax credits, grants for battery manufacturers and other initiatives.
Investment in EV battery manufacturing capacity is being ramped up around the world as demand for EVs continues to soar.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSouth Korea’s SNE Research estimated global EV battery sales rose to 66 gigawatt-hours (GWh) in the first four months of 2021 from 27 GWh a year earlier.
Sales of new energy vehicles in China, comprising mainly EVs, were forecast to more than double this year to 2.4m units.
