Apple Car may use LG batteries and EV components
The world's second-largest EV battery manufacturer LG may be supplying components for the Apple Car as well, according to Bloomberg which cites a local Korean analyst from KB Securities. Kim Dong-Won advises that LG Group, "which has a full line-up for EV components," is a potential partner for the Apple Car and may have even set up a working group to position itself best for the possibility to be a chief Apple Car parts supplier.
The working group reportedly consists of representatives from the LG Energy Solution business which makes batteries for Teslas and other electric vehicles, but also from LG Innotek, which supply the Tesla Vision self-driving camera kits, as well as LG Electronics with its EV parts, and possibly LG Display which is the maker of the pillar-to-pillar dual-stack Mercedes Hyperscreen.
This is already an impressive roster of components that LG could be supplying for the Apple Car, and it's not the first time we are hearing that LG is jostling for a good position to wiggle into the Apple Car supply chain from that same analyst. This time around, however, he is commenting to confirm yesterday's Naver report about the formation of an LG task force dedicated to winning the Apple Car business.
Apparently, it's Apple that came to LG to propose the partnership, as it has plenty of experience working with the Koreans as parts suppliers for its iPhones and other devices. Since the Inflation Reduction Act's new EV subsidy requirements demand that Chinese companies are excluded from the supply chain, Apple also has little other choice but turn to LG or its archrival Samsung.
Asked for a comment, LG denied the rumors as the working group whose existence it was asked about may actually be its general EV task force that it allegedly set up to try and become a major player in the red-hot industry niche. Besides collaboration between its various subsidiaries over their ability to craft EV components, the project includes retooling LG's former Android phone factory for churning out EV charging systems which LG may plan to distribute around shopping malls, supermarkets, and the like.
Apple has been rumored to probe numerous partners for its upcoming US$100,000 titanium electric car vaporware, ranging from Hyundai and Kia for their EV platform, to Foxconn for the assembly. Now that the Apple Car team reportedly finished its restructuring, and Apple's ambitions in the self-driving realm were scaled down significantly, Apple's Project Titan may finally be a go, and the dream team from Cupertino is allegedly now gunning for a 2026 Apple Car release.
"Apple should start shaping its own supply chain for EVs next year if it plans to sell a new car in 2026," confirmed the Korean analyst, while Naver's sources are of the opinion that LG's EV working group will be making a decision whether and how to supply Apple with EV components by early 2023.