BMW signs battery huge order with China’s CATL
BMW has awarded a contract worth just over a billion euros ($1.16 billion) to China’s lithium battery maker Contemporary Amperex Technology (CATL) the German carmaker. The deal will allow China’s biggest lithium battery maker to build a factory to produce cells for electric cars in Europe, BMW spokesman Glenn Schmidt said.
CATL is banking on a state-led Chinese drive to curb pollution from traditional combustion engines and increase the country’s presence in the overseas new energy vehicle (NEV) market.
CATL is scouting potential locations for a battery production facility in Europe with the German state of Thuringia encouraging the Chinese manufacturer to use a site near Erfurt, in eastern Germany.
Last month, Daimler placed an order with CATL to buy electric car battery cells.
Source: https://in.reuters.com/