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    ZeroAvia Series C Funding Image: Revolutionizing Sustainable Aviation with Hydrogen-Electric Engines, Decarbonization, and Green Initiatives.

    ZeroAvia Secures $116M in Series C Funding to Propel Zero-Emission Aviation

    Linxup Fleet Management - $50M Runway Growth Capital Investment Fuels GPS Tracking and IoT Innovation for SMBs

    Linxup Secures $50M Boost from Runway Growth Capital for GPS Tracking and Fleet Management Excellence

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    LucidLink Secures $75M in Series C Funding for Revolutionary Storage Collaboration Platform

    Princeton NuEnergy, a lithium-ion battery recycling company raised $16M to drive its LPAS™ technology for advancing sustainable energy and clean-tech solutions.

    Princeton NuEnergy’s $16M Funding Sparks a Brighter Future in Lithium-Ion Battery Recycling

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      ZeroAvia Series C Funding Image: Revolutionizing Sustainable Aviation with Hydrogen-Electric Engines, Decarbonization, and Green Initiatives.

      ZeroAvia Secures $116M in Series C Funding to Propel Zero-Emission Aviation

      Linxup Fleet Management - $50M Runway Growth Capital Investment Fuels GPS Tracking and IoT Innovation for SMBs

      Linxup Secures $50M Boost from Runway Growth Capital for GPS Tracking and Fleet Management Excellence

      LucidLink-Series-C-Funding-Filespaces-Storage-Collaboration.

      LucidLink Secures $75M in Series C Funding for Revolutionary Storage Collaboration Platform

      Princeton NuEnergy, a lithium-ion battery recycling company raised $16M to drive its LPAS™ technology for advancing sustainable energy and clean-tech solutions.

      Princeton NuEnergy’s $16M Funding Sparks a Brighter Future in Lithium-Ion Battery Recycling

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      Apple looking towards China for batteries supply for its future EV

      USTechTimes Editor by USTechTimes Editor
      June 11, 2021
      Home Apple
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      Apple is in early-stage talks with China’s CATL and BYD to supply batteries for its planned electric vehicle. However, it’s not clear if agreements with either CATL or BYD will be finalized. Apple has built EV manufacturing facilities in the United States that the Chinese battery suppliers can explore, said close sources.

      As per reports, CATL, which supplies significant carmakers, including Tesla, is reluctant to build a US factory due to political tensions between Washington DC and Beijing. Apple has yet to make a public announcement about its car plans. CATL, the world’s biggest automotive battery maker, and BYD also refused to comment on the matter.

      Shares of BYD closed 6.5% higher in Shenzhen. CATL reversed its earlier losses to finish 0.5% higher. Apple favors lithium iron phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt, which are more expensive, sources close to the development said. 

      Apple may produce passenger EV by 2024

      For some time, Apple has been working on self-driving technology and has targeted 2024 to produce passenger EV, as reported by Reuters in December. Those familiar with the matter have previously said Apple could include its breakthrough battery technology for its EV. It was unclear if Apple’s discussions with CATL and BYD involved Apple’s own technology or designs.

      The EV discussions happen at a time when the US government is attracting more EV manufacturing. President Biden’s proposed $1.7 trillion infrastructure plan to boost the domestic EV market includes a $174 billion budget with tax credits and grants for battery manufacturers, among other incentives.

      Several battery makers are ramping up production to meet increasing worldwide demand as car makers accelerate to shift to electric vehicles to comply with stricter emission rules to tackle the global warming issue. Chinese battery makers are expected to grow rapidly over their foreign peers thanks to its status as the world’s biggest EV market, SNE Research had said in a June report.

      CATL is planning a major new automotive battery plant in Shanghai, that will cement its lead as the world’s No. 1 supplier. The factory would be near Tesla’s China manufacturing operations.

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      Tags: AppleBYDCATLChinese BatteriesEV
      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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