BMW Apparently Cancels Billion-Dollar Deal with Northvolt

BMW has apparently canceled a billion-dollar order with Swedish battery manufacturer Northvolt, according to the German “Manager Magazin”. The contract, agreed upon in July 2020 for the supply of battery cells starting 2024, has apparently been withdrawn due to delays and quality issues at Northvolt.

Urgent need for prismatic cells

Northvolt currently operates a single factory in Sweden, with other plants still in the planning or construction phase. As a result, there are significant delays in the delivery of the prismatic cells that are contractually agreed upon. However, BMW is in urgent need of these cells for its current models such as the i4, i7, and iX. Future models will be based BMWʼs “New Class” platform, in which the auto maker will use large-format round cells. Once these replace the current models, BMW will no longer have any use for the contractually agreed prismatic cells.

BMW and Northvolt remain partners

Despite the order being canceled, BMW and Northvolt have confirmed their intention for future collaboration. BMW continues to hold shares in Northvolt and is expected to remain the number one customer for the planned factory in Heide, which is expected to start production in 2028. The round cells produced by Northvolt in Heide will then complement the cells from CATL, Eve Energy, and Envision for the “New Class” models.

Source:
https://www.electrive.net/2024/06/20/northvolt-verliert-wohl-milliarden-auftrag-von-bmw/

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