Apple (AAPL) Speaks 'iCar' with Korean Partners - Report

The Korea Times reported today that Apple (NASDAQ: AAPL) has been in contact with its Korean partners to discuss its EV business project. These reports back up the possibility that Apple is moving to work with Korean firms for its EV business.

Since last year, Apple has reportedly been planning to step into the EV business. Keeping with an old strategy, the U.S. tech firm is expected to outsource the manufacturing of its EVs just as they do with gadgets, such as iPhones, iPads and MacBooks.

"Apple officials have been in Korea for business talks with its Korean partners in the semiconductor and display sectors. As seen in Apple's smartphone business, the company is seeking business partners in Korea for its EV business," a senior industry executive directly involved with the issue told The Korea Times.

"Without partnerships with Korean vendors, Apple won't be able to complete its EV business plan. As far as I know, Apple has talked with LG, SK and Hanwha, but the talks are still in the early stages."

The industry source said that Korean manufacturers of EV batteries and other components will be able to benefit from Apple's business strategy. LG Energy Solution and SK Innovation have already been operating or are in the process of building battery-manufacturing facilities in the U.S., and Samsung SDI said that it is also considering building a battery plant.

By Michael Elkins | [email protected]

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