BMW directing efforts towards reduced battery costs
BMW is pursuing a strategy aimed at securing lower-cost batteries than rivals, in part by controlling the supply of raw materials for its battery-making partners.
BMW rode a wave of electric vehicle marketing this month by European luxury brands. The German automakers and rivals, including Tata Motors’ Jaguar Land Rover and Volvo Cars, a unit of China’s Zhejiang Geely Holding Group, are gearing up new electric models. The legacy automakers are under pressure from regulators in China, Europe and the state of California to field more clean vehicles. The European brands also want to keep more affluent consumers from flocking to vehicles made by Silicon Valley automaker Tesla Inc.
BMW has previously disclosed agreements with Chinese battery maker Contemporary Amperex Technology Co. and South Korea’s Samsung Electronics Co. However, Froehlich said those companies will supply batteries using a proprietary BMW design.
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