Mexican Media Brands
China’s CATL to Supply $4.7 Billion in Battery Cells to BMW
BMW AG says it has signed a multi-year deal to buy €4 billion ($4.7 billion) worth of battery cells from Chinese battery supplier CATL.
Share
BMW AG says it has signed a multi-year deal to buy €4 billion ($4.7 billion) worth of battery cells from Chinese battery supplier Contemporary Amperex Technology Ltd.
CATL will produce nearly 40% of the cells in a new factory it is building in Erfurt, Germany, according to BMW purchasing chief Markus Duesmann. BMW confirms it has invested an unspecified amount in the factory. Ningde-based CATL will supply the balance of BMW’s cells from China.
Reuters reported late last month that BMW also has signed battery supply deals with South Korea’s LG Chem and Samsung. The news service said the combined value of the three contracts is $25 billion (€21 billion).
RELATED CONTENT
-
GM Seeks to Avert U.S. Plant Shutdowns Linked to Supplier Bankruptcy
General Motors Co. says it hopes to claim equipment and inventory from a bankrupt interior trim supplier to avoid being forced to idle all 19 of its U.S. assembly plants.
-
On Automotive: An All Electric Edition
A look at electric vehicle-related developments, from new products to recycling old batteries.
-
Multiple Choices for Light, High-Performance Chassis
How carbon fiber is utilized is as different as the vehicles on which it is used. From full carbon tubs to partial panels to welded steel tube sandwich structures, the only limitation is imagination.
