BMW: signs cobalt supply deal with Morocco

(CercleFinance.com) - BMW said it has signed a deal worth around 100 million euros with Moroccan mining company Managem to secure raw material supplies for its battery cells.


With this order, the German premium carmaker estimates it will cover about a fifth of its cobalt needs for the fifth generation of its electric drive trains.

For the record, BMW aims to have 25 electrified models in its line-up by 2023.

The company said it will source the remaining 80% of its cobalt needs from Australia.

The contract between BMW and Managem runs until 2025.

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