BMW cancels 2 billion euros battery cells contract with Northvolt

BMW cancels 2 billion euros battery cells contract with Northvolt

June 20, 2024 / Sarkiya Ranen /


German premium carmaker BMW said on Thursday (Jun 20) it had cancelled a two billion euros (S$2.9 billion) order for battery cells for its electric vehicles with Northvolt.

German media, including manager magazin, 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.

“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. REUTERS



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Sarkiya Ranen

I am an editor for Ny Journals, focusing on business and entrepreneurship. I love uncovering emerging trends and crafting stories that inspire and inform readers about innovative ventures and industry insights.

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