Apple, Inc. Reportedly Exploring Electric Car Battery Technology
Apple's (NASDAQ: AAPL) automotive strategy may be in disarray, but the company continues to march forward with assembling all the pieces it will eventually need if it ever decides to pull the trigger on an electric car. The latest news comes from China's Yicai Global, which reports that Apple has been working with Contemporary Amperex Technology Ltd. (CATL) to develop automotive batteries. CATL was previously a part of Amperex Technology Ltd, which supplies batteries for other Apple products, but has since been spun off into a separate entity.
Based in Fujian, China, CATL currently produces battery packs for electric buses, electric passenger vehicles, electric trucks, and for stationary energy storage. The company has been the third-largest battery manufacturer in the world for the past two years, shipping 6.8 GWh worth of batteries last year (up from 2.4 GWh shipped in 2015).
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Source: Fool.com
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