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Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

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Apple To Build Own EV With “Breakthrough” Battery Tech

Apple plans to manufacture an electric passenger vehicle with its own breakthrough battery technology in 2024, sources with knowledge of the plans told Reuters, in what could be a revival of the iPhone maker’s car project ambitions.

Apple targets a mass passenger EV with a battery technology expected to “radically” cut the battery costs and boost the range, a source who has seen the battery design of the cell phone maker told Reuters.

Reports of Apple looking to develop a car are nothing new, but the company had reportedly significantly scaled back in 2016 its efforts to build a self-driving car, as it had been plagued by a variety of problems, from disagreements among leaders about the direction the project should take, to supply chain challenges, and the consequent outflow of managers and employees alike.

Early in 2019, Apple laid off around 200 employees from its autonomous car Project Titan, CNBC reported back then, citing people with knowledge of the matter.

Now Reuters reports that the iPhone maker has revived the plans to make a car, which will be a passenger EV with Apple battery technology.

Other companies that are not car manufacturers and aim to roll out car services are betting on robo taxis instead. For example, Google’s parent company Alphabet said in October that its self-driving unit Waymo was opening its fully driverless service to the general public in Phoenix, Arizona. For now, Waymo’s service will still be limited to Phoenix, but the company hopes for that to change in the future.

Apple’s renewed car-manufacturing endeavor could be a challenge even for such a rich company because of a lack of experience in building cars, according to Reuters.

It’s not clear yet whether Apple will develop and eventually sell the car with the Apple brand, or team up with a legacy automaker to integrate its battery and driving system technology in a car manufactured by an established carmaker.

By Tsvetana Paraskova for Oilprice.com

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