BMW orders US$24bil worth of batteries as EV demand grows

The German carmaker now has contracts for more than €20bil (US$23.8bil or RM98bil) worth of batteries, up from €12bil (RM59bil) previously, chief executive officer Oliver Zipse said

MUNICH: BMW AG has boosted orders for batteries cells to keep pace with accelerating demand for electric cars that made up for more than 11% of deliveries during the half of the year.

The German carmaker now has contracts for more than €20bil (US$23.8bil or RM98bil) worth of batteries, up from €12bil (RM59bil) previously, chief executive officer Oliver Zipse said in an interview. The cells are destined for i4 sedans, iX sport utility vehicles and other models BMW is producing through 2024. The company plans to start switching to a new generation of batteries the following year.