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TEHRAN, Nov 21_German carmaker BMW (BMWG.DE) on Thursday said it had ordered more than 10 billion euros’ ($11.07 billion) worth of battery cells from Chinese battery cell maker Contemporary Amperex Technology Co (CATL) (300750.SZ) and Samsung SDI (006400.KS).
TEHRAN, Young Journalists Club(YJC)_BMW said it had boosted its order with CATL to 7.3 billion euros from an original booking announced in mid-2018 that was worth 4 billion euros. It said the contract would last from 2020 to 2031.
BMW said it had also signed a battery supply contract with Samsung SDI worth 2.9 billion euros, valid from 2021 to 2031.
BMW said it would get the cobalt it needs for cell production from mines in Australia and Morocco and provide it to CATL and Samsung SDI. It said it would source the lithium from mines including in Australia.
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