November 21, 2019 / 7:24 AM / 23 days ago

BMW orders more than 10 billion euros' worth of battery cells

BERLIN, Nov 21 (Reuters) - German carmaker BMW on Thursday said it had ordered more than 10 billion euros’ ($11.07 billion) worth of battery cells from Chinese battery cell maker Contemporary Amperex Technology Co (CATL) and Samsung SDI.

BMW said it had boosted its order with CATL to 7.3 billion euros from an original booking announced in mid-2018 that was worth 4 billion euros. It said the contract would last from 2020 to 2031.

BMW said it had also signed a battery supply contract with Samsung SDI worth 2.9 billion euros, valid from 2021 to 2031. ($1 = 0.9032 euros) (Reporting by Michelle Martin Editing by Tassilo Hummel)

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