BMW Has Ordered $24 Billion Worth Of Battery Cells

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Post by Rob » Wed Sep 08, 2021 7:14 pm

During a recent interview with Bloomberg, BMW chief executive Oliver Zipse revealed that the car manufacturer now has battery contracts totaling more than €20 billion (~$24 billion), a significant increase from the €12 billion ($14.2 billion) worth of contracts that it previously had. Zipse stated that these cells will be used by the i4, iX, and other electric vehicles that BMW plans to introduce through 2024.

“We’re following the market,” Zipse said. “The first half has shown that we’re growing and gaining market share. We’re right in the middle of electrification.”

BMW’s new battery cell orders were placed through Contemporary Amperex Technology, EVE Energy, Samsung SDI, and Northvolt AB.

Bloomberg notes that BMW’s move to secure battery supplies comes at a particularly crucial time for the car manufacturer as it continues to deal with the semiconductor shortages crippling the industry. Zipse believes the shortage will get worse in the second half of this year"

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