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BMW cancels $2 billion EV battery cells contract with Northvolt

By: ZippyB

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BERLIN — German premium carmaker BMW said on Thursday it had canceled a 2 billion euros ($2.15 billion) order for battery cells for its electric vehicles with Northvolt.

German media, including Manager magazine, reported that the Swedish company could not deliver on time on a long-term supply contract for battery cells signed in 2020.

“Northvolt and the BMW Group have jointly decided to focus Northvolt’s activities on the goal of developing next-generation battery cells,” said BMW. Presumably BMW will now turn to other suppliers for its immediate needs. It makes some EV batteries in-house and also has contacts with big Asian suppliers like CATL.

“The BMW Group continues to have a strong interest in establishing a high-performance manufacturer of circular and sustainable battery cells in Europe,” it said.

Northvolt did not immediately respond to Reuters’ request to comment.



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