Apple, BYD secretly worked on now-canceled car project – report

Apple (NASDAQ:AAPL) and Chinese automaker BYD (OTCPK:BYDDF) worked secretly for years as part of the technology firm’s now-canceled car project, Bloomberg reported, citing people familiar with the situation.

Apple (AAPL) scrapped its EV initiative, called Project Titan, in February this year and shifted some of the employees to work on generative artificial intelligence instead. Now, Bloomberg says it worked with BYD since around 2017 to build a battery system as part of the project.

The two companies were working on a safer and longer-range battery than was available at the time. Apple (AAPL) spent around $1B annually on the project over the last 10 years.

As part of their partnership, Apple reportedly brought in engineering expertise in advanced battery packs and heat management and BYD (OTCPK:BYDDF) offered its manufacturing know-how and advancements using lithium-iron phosphate cells.

BYD (OTCPK:BYDDF) uses its own proprietary Blade LFP batteries in its lineup of EVs, with a claimed improved range and safety.

Apple (AAPL) and BYD (OTCPK:BYDDF) did not immediately respond to a request for comment from Seeking Alpha.