Apple Had A Hush-Hush Relationship With Tesla's Chinese-Rival BYD For Now-Abandoned Car Plans — Cupertino Poured Nearly $1B Each Year For A Decade Into The Project

Apple Inc. (NASDAQ:AAPL) reportedly had a secret partnership with Chinese electric vehicle manufacturer BYD Co Ltd (OTC:BYDDY) (OTC:BYDDF) to create long-range electric vehicle batteries.

What Happened: The partnership started in 2017 and aimed to develop a battery system using lithium iron phosphate cells, reported Bloomberg, citing people familiar with the matter.

While Apple does not own any technology used in BYD’s current Blade batteries, this development proves Cupertino's efforts to produce a car.

See Also: As Nvidia, Apple And Microsoft Race Towards $4 Trillion Valuation, Generative AI Startups Reportedly Draw 40% Of All VC Investment

Previously, it ...

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