According to the news of South Korean media, following the initial visit in the summer of 2021, Apple visited South Korea again at the end of 2021 and met with many auto parts suppliers. It is reported that the purpose of Apple's second visit to South Korea is to find some auto parts suppliers with large-scale production experience and provide core components for Apple's car-making project. After face-to-face contact with suppliers, Apple plans to continue negotiations through online meetings, and complete the selection of auto parts suppliers by the end of the year, followed by the start of large-scale mass production in the next 2-3 years.
Apple's interest in Local Auto Parts Suppliers in South Korea has also led to a fierce competition, and many suppliers have set up special teams to actively respond to Apple's requests and ensure that they have a place in the supply chain of Apple's car projects. Apple will make at least one equity investment in an auto parts supplier in exchange for doubling production capacity, the sources said.
According to foreign media reports, Apple discussed the supply of power batteries with LG and SK. But because negotiations are still in the early stages, suppliers have not received information about the vehicle specifications of Apple's first electric car. Even so, suppliers are aware of the need to keep Apple's car projects secret, fearing that leaking information could lead to the company being excluded from the supplier shortlist.
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