BMW signs $2.28bln battery cell supply agreement with Northvolt
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...