BMW ordered €10 billion worth of battery cells from CATL, Samsung SDI

Published: Nov 22, 2019 13:21

Save

Order volume from CATL will increase from €4 billion to €7.3 billion

SHANGHAI, Nov 22 (SMM) – German carmaker BMW Group said on November 21 that it has ordered more than €10 billion ($11 billion) worth of lithium-ion battery cells that could cover the requirements until 2031, from two cell manufacturers China’s CATL and South Korean Samsung SDI.

Order volume from CATL, which originally stood at €4 billion when it was announced in mid-2018, will rise to €7.3 billion.

The contract period with CATL will extend from 2020 to 2031.

Market commentary Lithium battery

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

18 hours ago

Platinum Prices Held Up Well Intraday, Spot Transactions Were Moderate [SMM Daily Review]

18 hours ago

Silver Prices Consolidated, Spot Market Premiums Softened [SMM Daily Review]

18 hours ago

20 hours ago

Gold and silver: Price, market volatility, and what is next

Precious metals are having a moment. Gold and silver surged to record highs in January, benefiting from an alignment of macroeconomic factors, evolving supply-demand dynamics, and renewed industrial demand.

20 hours ago