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SHARE Apple is aiming to produce its first electric car by 2024 and will use its own breakthrough battery technology, according to a media report. “Apple has progressed enough that it now aims to build a vehicle for consumers,” Reuters reported on Tuesday. “Central to Apple's strategy is a new battery design that could radically reduce the cost of batteries and increase the vehicle's range,” it added. Apple did not immediately respond to The National’s request for comment. The Cupertino-based iPhone maker is exploring the potential use of cost-effective LFP (lithium iron phosphate) batteries that are fast gaining recognition in the manufacturing industries. LFP batteries are safer to use than other lithium-ion batteries and are less likely to overheat.