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.
Energetica India chats up with Andreas Jansen on Wind and Solar Measurement Campaigns
Energetica India speaks to Mr. Santosh Kamath, KPMG in India on India’s RE & EV Industry Trends
Energetica India meets up with Mr. Bhupinder Singh to learn more about The Smarter E India 2019
Energetica India catches up with Shuli Goodman to learn about LF Energy Open Source Initiative