BMW to Hold Off Making Batteries for EVs; Munich Plant Sees High Demand
After BMW announced plans to double its all-electric deliveries to 200,000 in 2022 this week, one company executive has also said the company will wait to begin making its own battery cells.
BMW Finance Head Nicolas Peter said the company will wait to begin producing its own, in-house battery cells for upcoming EVs, and will instead rely on its partners to supply the technology, according to Reuters.
While BMW reached record sales in 2021 and the company is confident it has hit the top of 9.5-10.5 percent profit estimates, Peter explained that the company wants to wait until the field and technology has grown enough to ensure that producing the hardware on its own will be profitable.
BMW Currently ‘Growing Faster Than Tesla’, Says Chairman https://t.co/O7k1uwdetZ
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BMW said its transition to electric vehicles was happening faster than the company expected, with sales more than doubling in 2021 and still with a backlog of orders. A BMW spokesperson said it plans to add an extra weekend shift at its Munich plant starting in April to meet demand.
The BMW Munich plant produces the fully-electric i4 and the whole factory will be electrified by 2023, said the automaker back in October.
The German automaker currently buys its battery cells from CATL, Samsung and Northvolt, in addition to other suppliers.
BMW-owned Rolls Royce reiterated plans earlier this week to release the Spectre EV in 2023, while emphasizing that it won’t compromise its vehicle standards on the upcoming zero-emission vehicle.