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BMW Orders $24 Billion of Battery Cells for Electric Vehicles

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Oliver Zipse, CEO of BMW

Image: Bloomberg

German car manufacturer, BMW, has announced that it has increased orders for battery cells from $14.2 billion to $23.8 billion to match the increasing demand for electric cars, which accounted for over 11% of the company’s deliveries during the first half of 2021.

Oliver Zipse, CEO of BMW, stated that the cells are being ordered for a range of electric vehicles being produced by the manufacturer, such as i4 sedans and iX sport utility vehicles. The company also stated that it is planning to transition to a new generation of batteries by 2022.

“We’re following the market. The first half has shown that we’re growing and gaining market share. We’re right in the middle of electrification,” he said.

Due to a shortfall in the production of semiconductors, that have highlighted vulnerabilities in the supply chains of car manufacturers, companies such as BMW have responded by evaluating their growing number of electric vehicle sales.

Considering these challenges, it is critical for carmakers to secure access to raw materials, such as cobalt and nickel, in order to keep up with the increasing demand for electric vehicles.

With regards to the shortfall, Zipse stated, “We said some weeks ago that the second half would be more difficult.” and added that, “It’s more difficult and the problem is here to stay for many months.”

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Matthew Goosen

Matthew Goosen

Matthew Goosen is a Video Editor and Content Writer at Energy Capital & Power. He holds an Honours Degree in Film and Media Studies at the University of Cape Town and is currently undergoing his Masters Degree. Born in Pretoria and raised internationally, he has been living in Cape Town since 2013.