BMW agrees $4.7 billion contract with China’s CATL for battery cells

BMW all-electric iX3 will commence production in 2020

Contemporary Amperex Technology, China's largest power cell maker, has clarified that it has yet to ink a binding agreement to supply luxury carmaker BMW.

Incidentally, BMW declared that it would purchase battery cells worth Euro 4 billion (USD 4.7 billion) from CATL's already existing factory in China.

There have been warnings that Europe's lack of its own production capabilities for the cells that power electric cars could leave its auto industry exposed and too reliant on others. "If the Thuringia project is successful then we can consider other locations", he said. Set to be put into operation in 2021 and provide 600 jobs for the local area, its capacity is expected to reach 14Gwh in 2020.

It is the hope of the VDMA engineering industry association that CATL's investment could help increase further investment in battery technology in Europe. This is in contrast to the 12 GWh that the company achieved shipments of in 2017.

German automakers, including Volkswagen and BMW, are fearful that the country may not have sufficient production facilities to meet the demand for electric vehicle battery cells, as the country's major automakers make plans electrify their model lineups.

Duesmann said he would welcome it if other carmakers also wanted to invest in the Erfurt plant.

Netflix series calls Rajiv Gandhi a pu$$y
The officer in charge at Kolkata's Girish Park police station has accepted the complaint which is yet to be verified. It is one of the dialogues mouthed by Gaitonde that prompted 37-year-old Rajiv Sinha to type his complaint.

Loss to Anderson brings a Wimbledon first for Federer
It will be Djokovic's first semi-final at a major since the 2016 French Open when he completed the career Grand Slam. He came into the match having won 32 consecutive sets at Wimbledon , a run he stretched to 34 before faltering.

'Stealth' STI Mycoplasma genitalium risks becoming a superbug
MG can cause the inflammation of reproductive organs for women, which could ultimately lead to infertility. "So people need to take precautions".

Daimler said its strategy was to buy components where they are produced.

At a press conference in Berlin, CATL chairman Robin Zeng said that his company wants to become a supplier for all the original equipment manufacturers in Europe.

It remains to be seen if the agreement will come to fruition due to uncertainty surrounding cell production, delivery times and the development of BMW's NEV models.

Top of the to-do list has been striking deals with battery makers and securing supplies of raw materials for the cells, especially cobalt.

Duesmann said BMW would only conclude contracts where inhuman conditions and child labor were ruled out.

Related:

Comments

Latest news

Bank of Canada Hikes Interest Rate to 1.50%, CAD Climbs in Response
As in April, the projection incorporates an estimate of the impact of trade uncertainty on Canadian investment and exports. The Bank of Canada is widely expected to raise its trend-setting interest rate today for the first time in six months.

Gary Neville's World Cup predictions are very impressive in hindsight
The Three Lions have scored eight times from set-pieces in Russian Federation already, the most at a World Cup since Portugal in 1966.

Report accuses China firms over ozone depleting gas
The mystery of the excessive amounts of banned CFC-11 (tricholorofluromethane) in the atmosphere seems to have been solved. Traders and buyers of CFC-11 in China told the EIA that it is used in the majority of China's rigid PU foam sector.

NASA Spacecraft Picked Up Weird Plasma 'Sounds' As It Plunged Into Saturn
The celestial song was recorded by NASA's Cassini probe as it travelled between Saturn and it's tiny icy moon Enceladus. Auroral hiss emissions during Cassini's Grand Finale: Diverse electrodynamic interactions between Saturn and its rings.

Palestinians to keep paying prisoner stipend despite Israeli penalty
Most of these jailed Palestinians who benefit from the payment are tried through Israeli military courts, which has a almost 100 percent conviction rate of Palestinians.

Cardi B announces birth of daughter and reveals name
This is the fourth child for 26-year-old Offset , whose real name is Kiari Cephus. And the two gave their daughter, born Tuesday, a unique name.

Pilots U.S. tour includes Boston date
It looks as though the tracks will be taken off the band's forthcoming album, Trench , with a release date to be announced. Twenty One Pilots' new album follows their 2015 Grammy-winning "BLURRYFACE" and blends pop, hip-hop, rock and reggae.

#WorldCup - Croatia vs England preview
He was that bad and confirmed the doubts so many of us had expressed about him prior to that woeful performance. He said: "Helena really misses me when we're separated because of sporting obligations.

Southgate proud of England support after 20 years of personal hurt
And the 19-year-old was overwhelmed at the thought of helping France reach the final in his first appearance at a World Cup . Southgate's England take on Croatia in the semi-final in Moscow , having beaten Sweden 2-0 in the last eight in Samara.

Greece to 'expel Russian diplomats' over FYR Macedonia deal
Kathimerini claims that the Russian side tried to intervene in the Balkans issues the Greeks regard as particularly sensitive. Two Britons were also later poisoned by the nerve agent and one has died.

China rejects 'blackmail' on eve of USA tariff hike
President Xi, the president of China, is taking a much longer view than Trump because China's presidency doesn't have term limits. Wansleben added that China also needed to change its positions in many areas, "but there's definitely more room for improvement".

Ex-Bengals CB Pacman Jones attacked by employee at airport
Jones' party reportedly passed on medical treatment, but the assailant was transported to a local hospital for his injuries. Daugherty says that at some point during the fight, Ragin ended up hitting a woman who was with Jones, injuring her hand.

Fobbed off: woman accidentally steals auto for two weeks after key mix-up
The keys she turned in belonged to a Nissan Infiniti rather than a Sentra, leaving the manager "slightly confused", said police. The owner said he had ducked into Walmart and returned to find his auto missing from the parking lot, according to police.

Timberlake showing England-Croatia before London show
With the national team set to play in a World Cup semifinal, England is now firmly in the midst of a debilitating bout of World Cup fever.

India beats France to become world’s sixth largest economy
The country's gross domestic product (GDP) surged to $2.597 trillion at the end of 2017, compared to France's $2.582 trillion. The US topped the list, with a GDP of $19.390 trillion, followed by China, which had a GDP of $12.237 trillion.

Other news