Apple may secure its own battery materials to avoid shortages
Cobalt is an essential component in lithium ion batteries, making it a crucial material in the production of smart devices and electric vehicles. But, as battery-hungry cars go mainstream, there's a risk that the world's supply will be eaten up by cars, which poses a problem for all of the other things we use. It's why Apple has reportedly entered into direct talks with cobalt miners in the hope of securing a supply of the material itself. Bloomberg reports that the company, which has previously left the effort to its battery manufacturers, has now taken a more active role. According to the report, Apple is seeking to lock down a long-term deal, securing several thousand metric tons a year, for a last five years. The move puts Apple in direct competition with other big players who are also looking for a similar agreement, and advantage. BMW, Volkswagen and Samsung's own battery division are thought to be engaged in similar negotiations for their own EV projects. It...