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BMW reaches battery understanding value scarcely $5 billion with China’s CATL



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MUNICH — BMW skeleton to source 4 billion euros’ ($4.7 billion) value of battery cells from Chinese battery builder Contemporary Amperex Technology (CATL) over a subsequent few years, a automaker’s purchasing trainer said.

The long-term agreement sees 1.5 billion euros’ value of battery cells entrance from a new CATL plant in Erfurt, in a eastern German state of Thuringia, Markus Duesmann said. The rest will come from China.

A agreement for a construction of a new plant is due to be sealed on Monday during a revisit to Germany by China’s Premier Li Keqiang.

There have been warnings that Europe’s miss of a possess prolongation capabilities for a cells that energy electric cars could leave a automobile attention unprotected and too reliant on others.

Tesla owner Elon Musk has oral about locating a battery ‘Gigafactory’ nearby a Franco-German border, in a closeness of a Grohmann Engineering division.

Duesmann pronounced BMW had invested in some of a costs for a CATL bureau in Erfurt, though declined to contend how much.

The executive pronounced BMW was investing in dungeon investigate though a preference on either to furnish battery cells itself had not been made.

“I don’t order it out,” he said.

BMW is “very comfortable” with dual suppliers of battery cells during a moment, though could supplement a third and is in talks with 8 manufacturers, he added.

Duesmann pronounced he would acquire it if other automakers also wanted to deposit in a Erfurt plant.

However, BMW has no skeleton to jointly squeeze cells with opposition Daimler, he said, since of a rival advantage that can be gained if batteries give larger operation or can be charged faster.

Daimler pronounced a plan was to buy components where they are produced. “We acquire a preference of CATL to make in Germany and are in talks per this,” a orator said.

BMW is sourcing tender materials for a cells itself to pass to a battery makers, in sold cobalt, and is now negotiating long-term contracts.

Duesmann pronounced BMW would usually interpretation contracts where evil conditions and child labor were ruled out. It pronounced it was not sourcing cobalt from mines in Congo.

Contact Automotive News


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