BMW Accelerates Orders of Battery Cells for Electric Cars

German high-end carmaker BMW has announced it was tremendously increasing orders of battery cells for electric cars for the coming decade, as it strategies dozens of new electrified models.

The total increase of 6.2 billion euros ($6.9 billion) will come from a new 2.9-billion-euro contract with Samsung-SDI and an increase from 4.0 to 7.3 billion in orders from China's CATL, BMW said in a declaration.

German carmakers have been squeezed by years of emissions scandals and impending tougher greenhouse gas rules in Europe into making big bets on electric mobility.

The announcement "secures long-term battery cell needs" for the company, BMW said, adding that it was itself organizing supplies of raw materials cobalt and lithium to the cell makers.

Energy Storage | News published on 22/11/2019 by Moulin

 
 
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