Apple (AAPL) worked with BYD (BYDDF) for years as part of its now-canceled car project, developing long-range batteries which helped lay the groundwork for the technology used today, Gabrielle Coppola and Mark Gurman of Bloomberg reports, citing people familiar with the situation. Apple and BYD teamed up around 2017 to build a battery system using lithium iron phosphate cells, the sources added. While Apple does not own any of the technology used in BYD’s current batteries, the partnership shows how far the company went in its efforts to produce a car.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- Apple’s chief people officer leaving after less than two years, Bloomberg says
- Apple expands tools to help businesses connect with customers
- AAPL, MSFT, or GOOGL: Which Tech Company is the Better Buy this Earnings Season?
- United Air reports Q3 beat, Amazon unveils nuclear energy pacts: Morning Buzz
- Notable open interest changes for October 16th