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In search of partners to contribute to its electric car journey, Apple travels to South Korea and holds “secret” meetings with the multinational LG, which has just entered the automotive industry
The famous Apple is looking for partners for its new journey in the automotive industry of electric cars and according to information, a team of employees of the technology company visited South Korea on a trip to meet with companies such as the multinational LG, Hanwha and SK. The information also states that the American is looking for battery suppliers to start manufacturing its electric cars in the United States.
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A possible negotiation between Apple and LG
According to The Korea Times, a source within the American company would have confirmed the negotiations, which are still in the early stages. Apple officials were in South Korea to negotiate with local partners in the display and semiconductor sectors.
As seen in its smartphone sector, the company is looking for partnerships to grow its electric car business. Without partnerships with Korean suppliers, the American company will not be able to proceed with its business plan in the electric car industry.
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Apple is considering the use of lithium iron phosphate batteries in its future line of cars, which are currently produced by Korean companies such as the multinational LG.
Experts point out the reason for choosing South Korea
In addition to being the stage for large technology companies, such as the multinational LG, the country is specialized in lithium-iron batteries, as mentioned before. These batteries are a great alternative for electric cars and as Apple wants to build a vehicle that is not only autonomous, but also electric, it makes even more sense that the search for components that are farther from the current ones is in the crosshairs of the American team.
Despite having already warned its shareholders and investors that it wants to build these batteries and also the vehicles in the US, Apple also considers it essential to seek other options for components that are naturally used in the electric car sector.
An example of this is General Motors, which is betting on Ultium batteries. The market expectation is that Apple will launch its self-driving car in 2025.
LG in the electric car market
If the rumors are made official, everything indicates that Apple will have an even more surprising outcome, as LG, months ago, announced its entry into the electric car sector.
Not only that, the multinational has even entered into a partnership with Hyundai for the production of electric batteries in Indonesia. The two Korean companies plan to invest a total of US$ 1,1 billion in the creation of a new company, with participation divided equally between the two, building a factory in Karawang. With this, the local government will favor the factory with various incentives.
The factory of the multinational LG with Hyundai, will have an area of 330.000 m² and its construction will start later this year, with a date scheduled for completion in 2023. The company has the capacity to produce enough batteries to supply up to 150 electric cars. According to the multinational, the Indonesia was chosen because it is one of the largest nickel producers. In addition, local authorities show a great interest in investments and incentives in the sector.
