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BMW agrees EUR 4 billion contract with China's CATL for battery cells

Auto News - Published on Wed, 11 Jul 2018

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Reuters reported that BMW plans to source EUR 4 billion worth of battery cells from Chinese battery maker Contemporary Amperex Technology Ltd (CATL) over the next few years, the carmaker's purchasing head said. The long-term contract sees EUR 1.5 billion' worth of battery cells coming from a new CATL plant in Erfurt, in the eastern German state of Thuringia, Markus Duesmann said in Munich.

The contract for the plant in Erfurt is due to be signed on Monday during a visit of China's Premier Li Keqiang to Germany.

Duesmann said BMW had invested in some of the costs for the factory in Germany, but declined to say how much. He said he would welcome it if other carmakers also wanted to invest in the Erfurt plant.

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Posted By : Rabi Wangkhem on Wed, 11 Jul 2018
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