BMW signs $2.28bln battery cell supply agreement with Northvolt

By Dalila Ouerghi
Published: Thursday, 16 July 2020

Car and motorcycle maker BMW Group has signed a €2 billion ($2.28 billion) contract with Swedish battery maker Northvolt to secure a stable supply of battery cells for its fleet of electric vehicles (EVs), the German company said on Thursday July 16.

The contract is for battery production starting from 2024 at the Northvolt gigafactory currently under development in Skelleftea, northern Sweden.

The agreement highlights that Northvolt will use only green energy to produce the battery cells, sourced entirely from wind and hydroelectric power.

"Northvolt is the third battery cell supplier we...

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