Apple is trying to secure a long-term deal for cobalt directly with miners, as the company is planning to prevent production issues caused by shortages or higher prices following the growing popularity of electric vehicles.
Cobalt is one of the essential metals used for the production of batteries, and Apple is afraid that given the growing demand for the automotive market, the industry could be hit by shortages in the coming years.
As a result, the company is aiming to purchase cobalt directly from miners, according to a report from Bloomberg, with early talks involved a possible deal over five years of more for “several thousand metric tons” of the metal every year.
And while an agreement hasn’t yet been reached, the cited source notes that Apple is very keen on going ahead with the partnership, especially because demand for cobalt is increasing.
Apple competing against BMW, VW, and Samsung for cobalt d… (read more)
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