BMW signs 1 bln euros battery order with China’s CATL
China’s Contemporary Amperex Technology Ltd (CATL) will build a battery cell factory in the German state of Thuringia to supply European automakers including BMW, three sources said.
An official signing ceremony will take place at a summit in Berlin with China’s Premier Li Keqiang on July 9, two of the sources said.
Chinese workers produce lithium battery on the assembly line at a factory of Contemporary Amperex Technology Co in Ningde city, Southeast China’s Fujian province, Jan 10, 2018.
* Order worth over 1 bln euros, backs Europe factory plans
* CATL planning aggressive domestic capacity expansion
* Firm’s growth backed by state electric vehicle ambitions (Adds detail of deal, background)
SHANGHAI, June 29 (Reuters) – BMW has awarded a contract worth just over a billion euros ($1.16 billion) to China’s lithium battery maker Contemporary Amperex Technology Ltd (CATL), the German carmaker said on Thursday.
The deal will allow China’s biggest lithium battery maker to build a factory to produce cells for electric cars in Europe, BMW spokesman Glenn Schmidt said.
CATL is banking on a state-led Chinese drive to curb pollution from traditional combustion engines and increase the country’s presence in the overseas new energy vehicle (NEV) market.