Apple mulls Korean EV component makers for its ‘Apple Car’ project

Electric vehicles have long been considered the future of mobility with several tech companies now gravitating towards the development of their own EV brands. Recently, Apple Inc. was said to be in talks with South Korea-based EV component producers for its proposed ‘Apple Car’ project.

In the past, the company had pulled away from leading Korean automobile companies- Kia and Hyundai for a joint venture for its project. However, Apple seems to be circling in South Korea with an aim to strike a deal for certain components for its much-talked about EV business.

Citing reliable sources, Apple plans to outsource manufacturing of first-party electric vehicles, which could benefit Korean EV battery manufacturers.

The tech giant has held “advanced meetings” with some of the leading Korean companies like SK Innovation- a subsidiary of SK Group an EV battery expert. The company has also met with auto parts producer- Magna International and LG Electronics that have a JV named LG Magna e-Powertrain.  

Notably, Apple is considering used of a lithium iron phosphate (LFP) battery in place of a Li-ion battery in its EV models as the former technology has showcased fewer chances of overheating and offers more safety benefits.

At the moment, no Korean EV battery maker produces LFP batteries due to which industry experts expect Apple to turn to Chinese manufacturers for the technology. Although, the trade tiff between Apple and China could make U.S. a key region for the manufacturing process.

Reports have it that SK Innovations and LG Energy Solutions are already in the process of developing battery units in the U.S., while IT company- Samsung claims to considers the proposal.  

For the record, in 2021, Apple was about to close a deal with LG and Magna on the “Apple Car” alliance. Magna was one of the first entities that Apple had approached during the early stages of development of its autonomous car project.

Source Credit: https://appleinsider.com/articles/21/08/09/apple-reportedly-in-talks-with-korea-ev-component-makers-for-apple-car