apple company AAPL It is reported that the company had a secret partnership with a Chinese electric car manufacturer. BYD Co., Ltd. Biddy BYDDF Create long-range electric vehicle batteries.
what happened: The partnership began in 2017 and is aimed at developing battery systems using lithium iron phosphate batteries, Bloomberg reported, citing people familiar with the matter.
Although Apple does not own the technology used in BYD’s current Blade battery, this development is a testament to Cupertino’s efforts in car production.
See also: Generative AI startups reportedly attract 40% of all VC investments as Nvidia, Apple, and Microsoft race for $4 trillion valuation
It was previously reported that the tech giant had spent about $1 billion a year over the past decade on the car project, known internally as “Titan,” before exiting the company.
BYD’s entire vehicle lineup is now powered by the Blade system, a battery pack design formed based on insights gained from its collaboration with Apple, the report notes.
Ultimately, Apple decided to back out of the partnership and consider systems from other battery manufacturers.
In February, it was reported that the iPhone maker had abandoned the project.
Apple and BYD did not immediately respond to Benzinga’s requests for comment.
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Why it’s important: Earlier this week, it was reported that Apple had ended its self-driving car testing permit granted in 2017.
The seeds of the Apple Car were planted by the company’s legendary co-founder steve jobswanted the tech giant to create “this generation’s Volkswagen Beetle.”
Now, Apple has canceled the project but continues to innovate in the automotive field. For example, in July 2024, it was reported that Apple had been granted a patent for a new camera system for cars.
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