Wen/Li Suiyu
The question of whether Apple will venture into car production has become one of the biggest mysteries in the tech world. According to exclusive information obtained by the First Finance, Apple is quietly collaborating with a Chinese power battery manufacturer to develop a car battery, confirming that the Apple car project involves more than just software—it's also focused on hardware. Apple might indeed be working on a car.
On one side, there's Apple, the global tech giant based in Silicon Valley, and on the other, CATL (Contemporary Amperex Technology Co. Limited), a leading power battery manufacturer from Fujian, China. The two companies are reportedly working under a confidentiality agreement to collaborate on power battery projects. Sources close to this cooperation have informed CBN that they are partnering specifically in the field of power batteries.
In the age of Apple and CATL, these two entities are no strangers to each other. CATL was spun off from its parent company ATL's power battery division in 2011 and became an independent manufacturer. Founders like Zeng Yiqun and President Huang Shilin were previously executives at ATL.
About a month ago, during the Apple Worldwide Developers Conference (WWDC), CEO Tim Cook told U.S. media that Apple was "focused on automated driving systems" because they believed this was "a very important core technology, almost the mother of all AI projects." However, he didn’t discuss Apple’s car projects at the product level.
Apple hasn’t released any official statements regarding its collaboration with CATL, and CATL itself has declined to comment. Wu Hui, director of the new energy department at CCID Consulting, when interviewed by the First Financial Reporter, suggested that if Apple and CATL are collaborating on power batteries, it wouldn’t be surprising if Apple continues to pursue car manufacturing. After all, one of the key components of autonomous electric vehicles is the power battery.
In recent years, CATL has rapidly grown within the vehicle battery sector. Alongside Panasonic and BYD, it ranks among the top three in global automotive battery sales. Data from the China Chemical and Physical Power Industry Association shows that BYD and CATL led in China’s power battery shipments in 2016, with 7.4 GWh and 6.7 GWh, respectively. Both companies generated over 10 billion yuan in revenue from lithium-ion batteries last year, with BYD earning 15.26 billion yuan and CATL earning 14 billion yuan.
Previously trailing behind Panasonic and BYD, CATL has stepped up its efforts this year, challenging BYD’s dominance in China’s power battery market. Statistics from Real Lithium Research show that in the first half of 2017, CATL’s installed capacity for electric vehicles reached 1312.4 MWh, capturing 20.98% of the domestic power battery market, surpassing BYD. Meanwhile, BYD’s installed capacity was 1084.9 MWh, with a market share of 17.35%.
Different from BYD’s vertically integrated battery model, CATL, which is not yet involved in new energy vehicle manufacturing, supplies power batteries to several car companies. Besides its close partnership with BMW, it also provides batteries to SAIC, BAIC, Changan, Geely, Great Wall, Yutong, Golden Dragon, GAC, and other major domestic carmakers. Recently, they also became battery suppliers for Beijing Hyundai’s plug-in hybrid electric vehicle Sonata. As China encourages the growth of new energy vehicles, CATL has expanded its presence in the power battery field and aims to attract capital market attention to accelerate its progress.
Tesla, often seen as a model for internet companies, relies on Panasonic’s batteries.
The collaboration between Apple and CATL has sparked industry speculation that Apple may continue its car-making journey. Over the past few years, Apple’s path toward building a car has been full of twists and turns. In 2013, Apple announced its entry into the automotive industry, launching the iOS in the Car program and completing the CarPlay trademark application in November 2013. Early in 2014, Apple renamed iOS in the Car to the CarPlay system. At the Geneva Motor Show, Mercedes-Benz showcased the C-Class model featuring the CarPlay system. Other car manufacturers like Ferrari, BMW, GM, Ford, Honda, Hyundai, Nissan, and Toyota also demonstrated various models with integrated CarPlay interfaces.
In 2015, Apple ramped up its recruitment efforts, offering high salaries to poach talent from traditional car companies and establishing its own car R&D team. It called its car project the “Titan Plan.†At WWDC in June 2016, Apple announced updates to its smart car system, CarPlay, which would work seamlessly with the new Apple Maps and Siri under iOS 10. While the industry eagerly awaited Apple’s disruptive new energy vehicle offerings, Apple announced in October 2016 that it would abandon its automaker ambitions, shifting focus instead to unmanned technology systems.
However, Tim Cook’s recent comments have reignited speculation from Wall Street to Silicon Valley that Apple will eventually produce cars.
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