Apple eyes car production by 2024

Apple Inc plans to produce a passenger vehicle by 2024 equipped with its breakthrough battery technology that could “radically” reduce battery cost while increasing range.

The company's unique “monocell” design eliminates pouches and modules to free up space inside the battery pack, thereby placing more active material inside the battery that gives the car a potentially longer range.

Apple is also examining the battery called LFP, or lithium iron phosphate, which is less likely to overheat and is thus safer than other types of lithium-ion batteries.

While the iPhone maker’s automotive efforts, known as Project Titan, has progressed enough to make plans to build a vehicle for consumers, it remains unclear who would assemble an Apple-branded car.

Sources expect Apple to rely on a manufacturing partner for its vehicle projects.

Apple had previous discussions with Magna International Inc about manufacturing a car. But Apple’s plans became unclear.

A person who worked on Project Titan acknowledged that while Apple has the resources to manufacture cars, it's different from cellphones.

Apple has decided to engage partners for elements of the system, including lidar sensors, which help self-driving cars get a three-dimensional view of the road. Apple’s iPhone 12 Pro and iPad Pro models released this year both feature lidar sensors.

The company is also targeting 2024 to come up with self-driving car technology.