Reuters reports that BMW signed a huge deal for lithium-ion battery cells with CATL and it's much bigger than earlier suggested.
BMW Concept iX3
The contract is worth €4 billion (€4.7 billion) and divides into two parts:
- €1.5 billion from German plant (expected in the city of Erfurt in Thuringia, Germany)
- €2.5 billion from Chinese plants
The other battery supplier for BMW is Samsung SDI and BMW says that if there will be a need, a third supplier could be added from a group of eight that the company is currently in talks with.
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Hopefully soon we will learn more details officially.
"A contract for the construction of the new plant is due to be signed on Monday during a visit to Germany by China’s Premier Li Keqiang."
"...BMW was investing in cell research but a decision on whether to produce battery cells itself had not been made."
Source: Reuters
