BMW and Northvolt sign a 2 billion euros deal for EV batteries supply from 2024 on

18 July 2020, 02:08:04

BMW has signed a long-term supply contract worth 2 billion euros for battery cells with the Swedish company Northvolt. The battery cells will be produced in Europe at the Northvolt gigafactory currently under construction in Skellefteå in northern Sweden (series plant Northvolt Ett) from 2024. Northvolt will obtain 100 percent of the energy needed to produce the battery cells regionally in northern Sweden and exclusively from wind and hydroelectric power.

Andreas Wendt, member of the Board of Management of BMW AG responsible for Purchasing and Supplier Network, said: "Northvolt is the third battery cell supplier we have partnered with, alongside our existing partners, CATL and Samsung SDI. Signing this contract is another step towards meeting our growing need for battery cells in the long term. We are systematically driving the electrification of our vehicle fleet. By 2023, we aim to have 25 electrified models on the roads - more than half of them fully-electric."

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