BMW has placed orders for around €10 billion worth of battery cells for its planned line-up of 25 electric car models by 2023
The BMW Group is forging ahead with electromobility and deepening its existing business relationships with battery cell manufacturers Contemporary Amperex Technology (CATL) and Samsung SDI.
The original CATL order volume of €4 billion agreed in mid-2018 will now be increased to €7.3 billion (contract duration from 2020 to 2031), with €4.5 billion for the BMW Group and €2.8 billion for the Chinese production site of the BMW Brilliance Automotive joint venture in Shenyang.
The BMW Group is the first customer of the CATL battery cell plant currently under construction in Erfurt, Germany. [Read more…] about BMW orders €10 billion of battery cells for its 25 models of electric car